MercadoLibre Quarterly Revenue Just Topped $10 Billion for the First Time.
Is the Post-Earnings Sell-Off a Gift for Long-Term Investors?
MercadoLibre (NASDAQ: MELI) nailed it on the top line this week. Latin America’s leading e-commerce and fintech provider saw its net revenue surge 50% to $10.2 billion for the second quarter, its first time delivering 11-figure top-line results. Here are just some of the neat things about its blowout performance: – This is MercadoLibre’s headiest top-line jump for any quarter in four years. – It has delivered 30 consecutive quarters of at least 30% year-over-year gains. – With revenue growth accelerating for the second consecutive year, this is practically a lock to become the eighth straight year of at least 37% annual top-line growth.
Unfortunately for MercadoLibre and its investors, the market always dives beneath the surface before declaring that the water is fine. Bottom-line results, while better than expected, were rough. The stock responded by sliding as much as 8% on Thursday before settling for a 5% decline by the close.