MercadoLibre Just Keeps Growing
When a company has multiple drivers of growth, investors often benefit. Latin American e-commerce giant MercadoLibre (NASDAQ: MELI) has seen a lot go right for its business, with its core marketplace getting greater traffic and ancillary services like its Mercado Pago payment network starting to shine in their own right.
Coming into Wednesday's second-quarter financial report, MercadoLibre investors expected that the company's strong growth would continue. In fact, its growth was faster than many had foreseen, and it looks like things are all still going right as 2019 progresses.
Second-quarter numbers were impressive. Revenue was higher by 63% to $545.2 million, accelerating from its growth in the first quarter of 2019 and easily topping the 50% growth rate that most of those following the stock were expecting. Net income came in at $16.2 million, reversing a year-earlier loss, and the resulting earnings of $0.31 per share topped the consensus forecast among investors for $0.25.
Quelle Fool.com
