MercadoLibre (MELI) Surpasses Wall Street Expectations with Robust Q4 Results
Montevideo, Uruguay - MercadoLibre SA (MELI) reported strong financial performance for the fourth quarter of 2023. The company's earnings of $639 million exceeded analysts' estimates, driven by revenue growth and efficient cost management.
Earnings per share reached $12.61, surpassing the average estimate of $7.26 projected by Zacks Investment Research. Revenue for the quarter amounted to $6.06 billion, outperforming the $5.84 billion forecast by analysts.
For the full year, MercadoLibre recorded revenue of $20.78 billion and net income of $1.91 billion. Earnings per share for the year stood at $37.69.
The company's online marketplace and payments platform continue to expand in Latin America, contributing to its overall growth. MercadoLibre remains well-positioned to capitalize on the region's e-commerce and fintech sectors.