Market Review

MercadoLibre: Revenue and Profit Beat Forecasts in Q4

MercadoLibre (NASDAQ: MELI) released its quarterly report on Thursday, with outcomes surpassing analyst expectations. The revenue indicator exceeded forecasts.

The company reported earnings per share of $7.39, with revenues amounting to $4.26 billion. Analysts surveyed by Investing.com had anticipated earnings per share to be $7.07, with total revenue expected to be $4.14 billion.

MercadoLibre shares, having fallen by 7.59%, were trading at $1,679.97 post-market close, according to the report.

This year, MercadoLibre’s stock price, having risen by 15%, performed better than the overall Nasdaq 100 index, which increased by 7% since the beginning of the year.

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MercadoLibre follows the general trend of the “Technology” sector companies this month. On January 30, Microsoft reported its second-quarter earnings of $2.93 per share, with a profit of $62 billion, compared to the earnings per share forecast of $2.78 with total revenues of $61.1 billion.

Apple’s revenues exceeded analyst expectations on February 1, in the first quarter, with quarterly earnings per share of $2.18 and a total profit of $119.58 billion. Investing.com analysts had previously predicted earnings per share to be $2.1 with total revenue of $118.06 billion.

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