MercadoLibre Stock Falls: The 49% Revenue Jump Wasn’t Enough
MercadoLibre’s first-quarter net profit dropped 15.6% to $417 million, missing analyst forecasts, as spending on logistics, credit, and free shipping increased. Revenue jumped 49% to $8.8 billion, beating expectations. Shares fell about 4% in post-market trading. Gross merchandise value rose 42% to $19 billion, with rapid growth in Brazil and Mercado Pago users.