MercadoLibre Shares Reach All-Time High Following Strong Earnings Report
Record profits and revenue push Latin American e-commerce giant's stock upward Shares of MercadoLibre Inc., the leading e-commerce and fintech company in Latin America, soared to record highs after the firm reported impressive earnings that significantly exceeded analyst expectations. In the fourth quarter, the company posted a net income of $639 million, surpassing the median analyst estimate of $406 million, as indicated by data from Bloomberg. Additionally, MercadoLibre achieved revenue of $6.1 billion for the quarter, beating predictions and resulting in a stock price surge of up to 12.5% at the start of trading in New York. This robust financial performance comes on the heels of a third quarter that disappointed investors, leading to a decline in stock prices due to various profit metrics falling short as a result of heightened investments in logistics and credit services. However, MercadoLibre has made a notable recovery, with its shares rebounding by 37% since the beginning...
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