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MercadoLibre beats 4Q profit forecasts

BUENOS AIRES, Argentina (AP) _ MercadoLibre SA (MELI) on Thursday reported fourth-quarter earnings of $51.3 million.

On a per-share basis, the Buenos Aires, Argentina-based company said it had profit of $1.16.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.

The operator of an online marketplace and payments system in Latin America posted revenue of $256.3 million in the period.

For the year, the company reported profit of $136.4 million, or $3.09 per share. Revenue was reported as $844.4 million.

MercadoLibre shares have climbed 28 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $199.82, more than doubling in the last 12 months.

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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

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Keywords: MercadoLibre, Earnings Report