MercadoLibre revenue jumps 49% in first quarter, beating estimates
Updated
Updated · Bloomberg · May 7
MercadoLibre revenue jumps 49% in first quarter, beating estimates
10 articles · Updated · Bloomberg · May 7
The Montevideo, Uruguay-based e-commerce and fintech group reported $8.8 billion in revenue, above analysts’ roughly $8.4 billion forecast.
Net income was $417 million, missing the $433 million analyst estimate and marking a fourth straight quarter of profit coming in below expectations.
The results showed MercadoLibre’s fastest revenue growth in nearly four years, driven by strong e-commerce demand despite weaker-than-expected profitability.
With profits missing for a year, is MercadoLibre's massive spending spree a brilliant long-term play or a costly gamble?
As MercadoLibre's fintech loans surge, are rising defaults a temporary growing pain or a sign of a hidden crisis?