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Strategies & Market Trends : MELI MercadoLibre
MELI 1,067-5.5%11:50 AM EST

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From: Savant8/3/2012 10:01:51 AM
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MercadoLibre, Inc. Reports Financial Results for Second Quarter 2012
Aug 2, 2012 (GlobeNewswire via COMTEX) --

* Items sold during Q2'12 increased by 35.6% year-over-year to 15.8

* Net Revenues in Q2'12 grew to 88.8 million, a 47.1% growth in local

* Q2'12 net income increased to $25.4 million, a 90.8% growth in local

MercadoLibre 2nd-Quarter Net Up 71% as Users, Sales Increase

Last Update: 8/2/2012 6:50:39 PM

By Kristin Jones

MercadoLibre Inc.'s (MELI) second-quarter profit jumped 71% as the online
marketplace reported an increase in users and items sold.

The results beat Street expectations, and shares jumped 12% to $74.62 in
after-hours trading. Through the close, the stock was down 16% so far this year.

The Latin America e-commerce company provides merchandise listings for
individuals and businesses. It also offers an online-payment service, and has
posted double-digit revenue and earnings growth on a percentage basis over the
past two years.

The latest period included higher interest income and currency gains.

MercadoLibre posted a profit of $25.4 million, or 57 cents a share a share, up
from $14.8 million, or 34 cents, a year earlier.

Revenue jumped 28% to $88.8 million.

Analysts polled by Thomson Reuters were expecting per-share earnings of 49 cents
a share on revenue of $88 million.

Gross margin narrowed to 73.1% from 75.6%.

Total confirmed users reached 73.2 million in the period, up 25% from a year

Gross merchandise volume increased 22%, while items sold jumped 36%.
MercadoLibre up 16% premarket after earnings
Up over 21% after open
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