MercadoLibre Tops Estimates With ‘Stellar' Argentina Rebound
E-commerce and fintech giant MercadoLibre Inc. beat analysts' expectations in the first quarter of the year, delivering strong growth in its credit portfolio while its Argentina division saw a boost as the country removed trade barriers and scrapped currency controls.
Revenue in the three months through March rose 37% from a year earlier to $5.9 billion, topping the $5.5 billion median estimate in a Bloomberg survey. Net income at $494 million and operating income also came in stronger than expected.
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