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MercadoLibre: 3Q Earnings Snapshot

Associated Press
Updated

BUENOS AIRES, Argentina (AP) _ MercadoLibre SA (MELI) on Thursday reported a loss of $146.1 million in its third quarter.

On a per-share basis, the Buenos Aires, Argentina-based company said it had a loss of $2.96. Losses, adjusted for pretax expenses, came to 97 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.

The operator of an online marketplace and payments system in Latin America posted revenue of $603 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $604.9 million.

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MercadoLibre shares have climbed 78% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $521.52, a rise of 61% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MELI at https://www.zacks.com/ap/MELI