|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