MercadoLibre, Inc. Reports First Quarter 2020 Financial Results
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MercadoLibre (MELI) Tops Q1 EPS by 4c, Revenues Beat
May 5, 2020 5:00 PM EDTMercadoLibre (NASDAQ: MELI) reported Q1 EPS of ($0.44), $0.04 better than the analyst estimate of ($0.48). Revenue for the quarter came in at $652.1 million versus the consensus estimate of $633.73 million.
First Quarter 2020 Financial Highlights
Net revenues for the first quarter were $652.1 million, a year-over-year increase of 37.6% in USD and 70.5% on an FX neutral basis.Commerce revenues increased 32.7% year-over-year in USD and 62.0% on an FX neutral basis, while Fintech revenues increased 45.2% year-over-year in USD and 83.4% on an FX neutral basis.Gross profit was $312.8 million with a margin of 48.0%, compared to 50.0% in the first quarter of... More