Why MercadoLibre Inc Stock Popped Today

Shares of MercadoLibre Inc (NASDAQ: MELI) were roaring higher today after the Latin American e-commerce specialist posted a strong third-quarter earnings report. As of 11:17 a.m. EDT, the stock was up 10.1%.

MercadoLibre posted blistering revenue growth of 60.6% to $370.7 million, which crushed estimates of $347.7 million. On the bottom line, profits actually fell as expected as the company expands free shipping, and sales and marketing expenses more than doubled. Earnings per share slipped from $0.88 to $0.63, but that still topped estimates by a penny.

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Source: Fool.com