AP NEWS

MercadoLibre: 4Q Earnings Snapshot

February 10, 2020 GMT

BUENOS AIRES, Argentina (AP) _ MercadoLibre SA (MELI) on Monday reported a loss of $54 million in its fourth quarter.

The Buenos Aires, Argentina-based company said it had a loss of $1.11 per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 69 cents per share.

The operator of an online marketplace and payments system in Latin America posted revenue of $674.3 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $668 million.

For the year, the company reported that its loss widened to $172 million, or $3.71 per share. Revenue was reported as $2.3 billion.

MercadoLibre shares have climbed 15% since the beginning of the year. In the final minutes of trading on Monday, shares hit $658.23, a climb of 89% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MELI at https://www.zacks.com/ap/MELI