MercadoLibre beats quarterly revenue expectations, but margins shrink [Reuters]
MercadoLibre, Inc. (MELI)
Last mercadolibre, inc. earnings: 2/10 04:01 pm
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Source: Reuters
MercadoLibre beats quarterly revenue expectations, but margins shrink By Reuters Staff 2 Min Read (Reuters) - Argentine e-commerce platform MercadoLibre Inc reported a record quarterly revenue on Monday, beating estimates, yet saw profit margins shrink from heavier spending to keep up with an online shopping boom driven by the COVID-19 pandemic. The company’s gross profit margin dipped 8.9 percentage points from a year ago while costs swelled 36% due to the higher cost of goods and shipping expenses during the competitive holiday season, executives told a conference call with analysts. Shares dipped more than 3% in after-market trading on the results. Still, revenue soared to $1.33 billion from $674.3 million a year ago, outdoing analyst estimates of $1.22 billion, according to IBES data from Refinitiv. Speedy deliveries are a key competitive edge for e-commerce in Latin America, which still makes up a fraction of retail as MercadoLibre and its rivals, including global giant Amazon,
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MELI
News
- MercadoLibre, Inc. (NASDAQ: MELI) had its price target lowered by analysts at Wedbush from $2,000.00 to $1,800.00. They now have an "outperform" rating on the stock.MarketBeat
- Chilean Retailer Falabella Aims to Close Several Major Asset Sales This Year [Yahoo! Finance]Yahoo! Finance
- Chilean Retailer Falabella Aims to Close Several Major Asset Sales This Year [BNN Bloomberg (Canada)]BNN Bloomberg
- MercadoLibre, Inc. (NASDAQ: MELI) was upgraded by analysts at DZ Bank AG from a "hold" rating to a "buy" rating. They now have a $1,685.00 price target on the stock.MarketBeat
- Online Marketplace Stocks Q4 Teardown: Etsy (NASDAQ:ETSY) Vs The Rest [Yahoo! Finance]Yahoo! Finance
MELI
Earnings
- 2/22/24 - Miss
MELI
Sec Filings
- 4/23/24 - Form 8-K
- 2/23/24 - Form 10-K
- 2/22/24 - Form 8-K
- MELI's page on the SEC website