MercadoLibre (MELI) Tops Q1 EPS by 31c

MercadoLibre (NASDAQ: MELI) reported Q1 EPS of $1.10, $0.31 better than the analyst estimate of $0.79. Revenue for the quarter came in at $273.9 million versus the consensus estimate of $246.81 million.

• 53.2 million Sold Items, up 38.6%, 44.1 million Total Payment Transactions, up 60.1%
• Net Revenues of $273.9 million, growing 73.8% in USD, 78.9% on an FX neutral basis
• Net Income of $48.5 million, resulting in EPS of $1.10.

Pedro Arnt, Chief Financial Officer of MercadoLibre, Inc., commented, “We’ve kicked off the year with a strong first quarter, sustaining the momentum from 2016, which was one of the best years in history for us. The consistent pace of execution this quarter is a direct reflection of our relentless drive to deliver disruptive technology solutions to our users across platforms, devices, and countries where we operate. We remain focused on transforming commerce and financial services through product innovation, fostering entrepreneurship and delivering best in class user experiences, and thus cementing our leadership position in technology, online payments, and ecommerce throughout Latin America.”

For earnings history and earnings-related data on MercadoLibre (MELI) click here.

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