:max_bytes(150000):strip_icc()/GettyImages-2150685107-02300719789c495ebb6f75e9f2eac82c.jpg?w=1920&resize=1920,1267&ssl=1 "MercadoLibre Stock Sets All-Time High as Q4 Earnings Blow Past Estimates | Global News Avenue")
MercadoLibre Stock Sets All-Time High as Q4 Earnings Blow Past Estimates
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Key Points
- Mercadolibre’s stock set a record record with strong fourth-quarter earnings on Friday morning.
- Revenue is slightly higher than estimated, while earnings per share of more than $4 per share are better than expected.
- Among the major countries of Mexico, Brazil and Argentina, revenues grew 31% to 43%.
Mercadolibre(MerleyStocks soared on Friday after Latin American e-commerce giant earnings well above expectations in the fourth quarter.
According to estimates compiled by Visible Alpha, the company reported fourth-quarter revenue of $6.06 billion, slightly higher than forecasts, while earnings per share were $12.61, surpassing the $8.20 per share forecast.
Mercado Libre said the company’s revenue in Mexico, Brazil and Argentina surged to 31% to 43% compared to the same period last year, as revenues across the company rose 37% year-on-year to quarterly record.
The company said in a letter to shareholders: “The retention and frequency in our market are record levels, and the payments and deposits of each user in our digital account are also at record levels, from our digital account , the number of merchants borrowing money is higher than ever.”
The e-commerce company’s shares have recently risen 8% after setting an intraday record of $2,374.54 earlier in the meeting.
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