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1 Year Later, MercadoLibre Is Two-Thirds Bigger

TheMotleyFool

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1 Year Later, MercadoLibre Is Two-Thirds Bigger

Ordinarily, this is how things work in the stock market: First, a stock reports bad earnings news, then its stock goes down -- but on Thursday, MercadoLibre (NASDAQ: MELI) flipped that script.

First, shares of the Latin American e-commerce giant plummeted in Thursday's global tech rout, closing the day down 10.8%. It was only after the market closed for the day that MercadoLibre reported its first-quarter earnings had missed expectations, coming in $0.06 shy of analysts' $1.36-per-share forecast.

The good news: MercadoLibre's $2.2 billion in quarterly revenue beat forecasts for $2 billion. In my view, this was the most important takeaway from MercadoLibre's Q1 report.

Source Fool.com

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