|MercadoLibre 4Q Net Up 36%, Shares Slide** As Results Miss View |
Last Update: 2/23/2012 7:05:52 PM
DOW JONES NEWSWIRES
MercadoLibre Inc.'s (MELI) fourth-quarter earnings rose 36% as the online
marketplace reported higher revenue and more registered users.
However, shares slid 4.8% to $92.35 in after-hours trading Thursday as results
fell short of analysts' expectations.
The Latin America-based e-commerce technology company offers services such as
MercadoLibre Marketplace, MercadoPago payments solutions, MercadoClics
advertising program and MercadoShops online stores. The company has posted top-
and bottom-line growth over the past four years.
MercadoLibre reported a profit of $21.6 million, or 47 cents a share, up from
$15.9 million, or 36 cents a share, a year earlier. Revenue increased 39% to
Analysts polled by Thomson Reuters had expected a per-share profit of 51 cents on
revenue of $87 million.
Gross margin narrowed to 76% from 77.9%
The company had 65.8 million confirmed registered users at the end of the period,
a 24% increase from a year earlier. Gross merchandise volume rose 47%, while the
number of items sold on MercadoLibre rose 41%.
Total payments volume rose 40% while total payments transactions increased 95%.
**Seems 'they' can always turn victory into defeat...(chagrin)...sure, slide from a double since
Oct 4th, and hitting year highs.
Prolly ahead of itself, but gaining ground.
PS. Upped divy to 10.9c/shr, up 36%