MercadoLibre (NASDAQ:MELI) Posts Better-Than-Expected Sales In Q3, Increases Its Unique Active Buyers
MercadoLibre, Latin America's e-commerce and fintech giant, reported third quarter results, surpassing Wall Street's revenue expectations with a 39.5% jump to $7.41 billion. The company attracted more buyers, with unique active users rising by 16.2 million to 77 million, a 21% annual increase. However, profits per share fell short of estimates due to expansion investments in operations, shipping, and social commerce. Despite strong revenue growth, MercadoLibre's shares dropped 3.5% post-earnings, leaving investors to question if the company's heavy investments will lead to sustained profit growth or disappoint in the coming months.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.