Will MercadoLibre Keep Soaring When It Reports Q2 Earnings?
Investors in MercadoLibre (NASDAQ: MELI) have been on a thrill ride for the last couple of years. After the Latin American e-commerce and payments giant reached all-time highs in early 2018, several unforeseen challenges sent the stock into a tailspin, and it shed more than 40% of its value. Those doubts evaporated in early 2019 as the company returned to profitability, reassuring Wall Street that its growth story wasn't over. Investors have since piled into the stock, which is up more than 100% so far this year and hit some new all-time highs.
Considering its recent sprint, MercadoLibre will have a lot to prove to investors when the company releases the results of its second quarter after the market close on Wednesday, Aug. 7. Let's take a look at MercadoLibre's Q1 results and what has investors so jubilant, to see if it provides any insight into what to expect when the company reports earnings.
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