Mercadolibre Inc (MELI) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.68 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.57. The company posted revenue of $157.63 million in the period, compared to analysts expectations of $145.95 million. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.
Many Wall Street Analysts have commented on Mercadolibre Inc. Company shares were Reiterated by Piper Jaffray on Apr 4, 2016 to “Overweight”, Firm has raised the Price Target to $ 160 from a previous price target of $150 .Mercadolibre Inc was Upgraded by HSBC Securities to ” Hold” on Mar 2, 2016.
Mercadolibre Inc closed down -0.98 points or -0.78% at $124.36 with 3,73,853 shares getting traded on Wednesday. Post opening the session at $124.03, the shares hit an intraday low of $123.68 and an intraday high of $126.25 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
MercadoLibre Inc. hosts an online commerce platform in Latin America which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions in Argentina Brazil Chile Colombia Costa Rica Ecuador Mexico Peru Uruguay and Venezuela. The Company also operates online commerce platforms in the Dominican Republic Panama and Portugal. The Company offers its users an eco-system of six related e-commerce services: the MercadoLibre Marketplace The MercadoLibre Classifieds Service the MercadoPago payments solution the MercadoLibre Advertising program the MercadoShops online stores solution and the Mercado Envios shipping service. The Company also operates a real estate classified platform that covers some areas of State of Florida in the United States.