MercadoLibre (MELI) PT Raised to $1,400 at BTIG

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Go back to MercadoLibre (MELI) PT Raised to $1,400 at BTIG

MercadoLibre (MELI) stock gains after crushing profit estimates, 'continues to shine' says analyst

February 24, 2023 8:55 AM EST

MercadoLibre (NASDAQ: MELI) shares are moving higher in pre-open Friday trading after the South American e-commerce business reported better-than-expected profit figures for the fourth quarter. MELI stock is up almost 4% in pre-market Friday.

MELI posted Q4 EPS of $3.25 to crush the average analyst estimate of $2.46. Revenue soared 41% year-over-year to $3 billion, beating the $2.96B consensus. Argentina and Mexico revenues increased by 50% and... More