Why MercadoLibre Inc. Stock Fell 11% Today

Shares of MercadoLibre (NASDAQ: MELI) fell as much as 11.7% on Friday, hitting that low around 2:45 p.m. EDT, after the Buenos Aires-based e-commerce company reported second-quarter earnings Thursday night.

Analysts had been looking for adjusted earnings near $1.03 per share on revenues of roughly $311 million. Sales jumped 59% higher year over year to land at $317 million, easily clearing the analyst bar, but the earnings figure fell far short at $0.61 per share.

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Source: Fool.com