MercadoLibre Weathers Argentina Tumult With Mexico, Brazil Gains [BNN Bloomberg (Canada)]
MercadoLibre, Inc. (MELI)
Last mercadolibre, inc. earnings: 2/10 04:01 pm
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Source: BNN Bloomberg
Net income for the three-month period ended March totaled $344 million, a 71% increase from a year earlier. That compares to the $313 million average forecast by analysts tracked by Bloomberg, and also incorporates a negative $10 million impact due to some changes to its reporting method unveiled Thursday. Revenue rose 36% from a year earlier to $4.3 billion. The devaluation of the Argentine peso under President Javier Milei “shrank the size” of the firm's highly profitable local business, while also affecting consumption, according to Chief Financial Officer Martin de los Santos. Still, the margin compression seen in Argentina was “more than compensated” by improvements in Brazil and Mexico, he said. There are “some tough headwinds from Argentina,” de los Santos said in an interview. “We've seen it in the past, we've been through it. The good thing is our marketplace tends to be very resilient to this kind of situation.” Gross merchandise volume totaled $11.4 billion, also ahe
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MELI
Earnings
- 5/2/24 - Beat
MELI
Sec Filings
- 5/3/24 - Form 10-Q
- 5/2/24 - Form 8-K
- 4/25/24 - Form DEFA14A
- MELI's page on the SEC website