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MercadoLibre: 1Q Earnings Snapshot

BUENOS AIRES, Argentina (AP) _ MercadoLibre SA (MELI) on Wednesday reported a first-quarter loss of $12.9 million, after reporting a profit in the same period a year earlier.

The Buenos Aires, Argentina-based company said it had a loss of 29 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The operator of an online marketplace and payments system in Latin America posted revenue of $321 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $421.6 million.

MercadoLibre shares have climbed slightly more than 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $325.31, a rise of 15 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MELI at https://www.zacks.com/ap/MELI