From Nasdaq: 2024-11-07 10:41:00

MercadoLibre (MELI) reported Q3 2024 earnings of $7.83 per share, missing estimates by 30.52% but up 9.4% YoY. Revenues rose 35% YoY to $5.3 billion, surpassing estimates by 1.11%. GMV reached $12.9 billion, up 71.2% YoY. TPV surged 72.7% YoY to $50.6 billion. Fintech monthly active users totaled 56 million.

In Q3, Brazil, Argentina, Mexico, and other countries saw revenue growth of 41.2%, 13.5%, 44%, and 39% YoY, respectively. Successful items sold and shipped rose by 27.7% and 29.4% YoY, while total payment transactions increased by 47.5% YoY. Operating margin was 10.5%, down from 20.9% YoY.

MercadoLibre currently holds a Zacks Rank #2 (Buy). Other top-ranked stocks in the retail-wholesale sector include Alibaba (BABA), Boot Barn (BOOT), and Brinker International (EAT), all with a Zacks Rank #1 (Strong Buy) each. Shares of BABA, BOOT, and EAT have seen significant gains in the year-to-date period.



Read more at Nasdaq: MercadoLibre’s Q3 Earnings Miss Estimates, Revenues Rise Y/Y