MercadoLibre Reports Mixed Q4 Results: Earnings Miss, Revenues Beat
Portfolio Pulse from Erica Kollmann
MercadoLibre, Inc. (NASDAQ:MELI) reported mixed Q4 results with earnings per share of $3.25, unchanged from last year, and quarterly sales of $4.26 billion, surpassing analyst expectations. The company highlighted significant growth in its Ads platform and fulfillment network, emphasizing its strategic investments in technology and market positioning in Latin America. Despite these positive developments, MELI shares dropped 8.69% in after-hours trading.
February 22, 2024 | 10:18 pm
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MercadoLibre reported mixed Q4 results with unchanged EPS and higher-than-expected sales. The company's strategic growth and investment in technology were highlighted, but shares fell 8.69% after-hours.
Despite reporting higher-than-expected sales and emphasizing strategic growth, the unchanged EPS and the after-hours share price drop of 8.69% suggest a negative short-term impact on MELI's stock. Investors may have expected better earnings growth, leading to the negative price action.
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