MercadoLibre Stock Slips After Q2 Earnings Report: Details

MercadoLibre, Inc. MELI released its second-quarter results after Monday's closing bell. Here's a look at the key details from the report.  

MELI stock is down after-hours. Track it now here.

The Details: MercadoLibre reported quarterly earnings of $10.31 per share which missed the analyst consensus estimate of $12. Quarterly revenue came in at $6.79 billion, which beat the Street estimate of $6.55 billion and is up from $5.07 billion from the same period last year.

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For the second quarter, MercadoLibre reported:

• In Commerce, items sold rose 31% year-over-year.
• In Fintech, the user base grew 30% year-over-year.
• Mercado Pago’s credit portfolio grew 91% year-over-year.
• In Advertising, revenue grew 38% year-over-year.

“Our disciplined investments and consistent execution continue to strengthen our leadership in e-commerce, fintech and digital advertising across Latin America. Highlights this quarter included the expansion of our free shipping program in Brazil, high-impact marketing campaigns for Mercado Pago, and the integration with Google Ad Manager to broaden our reach among advertisers.” said Mercado Libre CFO, Martin de los Santos.

Outlook: 

MELI Price Action: According to data from Benzinga Pro, MercadoLibre stock was down 6.09% at $2,250 in Monday's extended trading. 

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