MercadoLibre's Red-Hot, Triple-Digit Growth Streak Continues
MercadoLibre (NASDAQ: MELI) reported its second quarter results after the market close on Wednesday, and pulled another stunning upset as sales on its e-commerce platform more than doubled. The company reported revenue that grew 149% year over year in local currencies to nearly $1.12 billion, marking the first time the company has surpassed the billion-dollar quarterly watermark. MercadoLibre also reported net income of $15 million, resulting in earnings per share (EPS) of $0.28, flipping from a loss in the prior-year quarter.
To put those numbers into context, analysts' consensus estimates called for revenue of $972 million and EPS of $0.17.
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Source Fool.com
