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MercadoLibre Weathers Argentina Tumult With Mexico, Brazil Gains
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MercadoLibre easily beats Q1 estimates (NASDAQ:MELI)
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MercadoLibre net profit surges, driven by Brazil, Mexico
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(Bloomberg) Latin American e-commerce and fintech giant MercadoLibre Inc. jumped the most since August after posting strong first quarter earnings that saw profit surge in Brazil and Mexico, helping offset the hit from Argentina’s currency devaluation. Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineEverything Apple Plans to Show at May 7 ‘Let Loose’ iPad EventApple Rallies Most in 18 Months on Upbeat Forecast, BuybackTrump Auditions VP Picks Before Wealt
Latin America e-commerce giant MercadoLibre said on Thursday its first-quarter net profit surged 71% from a year earlier, beating analysts' estimates as its performance in Brazil and Mexico offset some negative effects in Argentina. MercadoLibre, which operates a marketplace in 18 countries and also owns the fintech Mercado Pago, posted a $344 million net profit in the three months, while analysts polled by LSEG had expected a $314 million net profit.