Why MercadoLibre Stock Popped Today

Shares of MercadoLibre (NASDAQ: MELI) were delighting investors again today after the Latin American e-commerce star delivered another blowout earnings, beating estimates on both the top and bottom lines. It marked the third time this year that the stock has surged on earnings, giving investors a more-than-100% gain through 2019.

As of 3:02 p.m. EDT, the stock was up 12%.

After wowing investors in the first quarter with huge growth from its MercadoPago payment network, MercadoLibre pulled a similar trick this time around for the second quarter. Revenue more than doubled on a currency-neutral basis to $545.2 million, and rose 63% on the basis of generally accepted accounting principles (GAAP). That was much better than estimates calling for 50% top-line growth.

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