MercadoLibre Earnings Miss, Revenue Beats In Q1 By Investing.com

By Yasin Ebrahim

MercadoLibre (NASDAQ:MELI) reported Monday first quarter revenue that topped expectations as demand for online shopping in Latin America continued to grow even as physical retail gradually reopened.

MercadoLibre shares lost 0.94% in after-hours trade following the report.

MercadoLibre announced a loss per share of $1.02 on revenue of $1.33 billion. Analysts polled by Investing.com anticipated EPS of 16 cents on revenue of $1.21 billion.

Gross merchandise volume of $6.6 billion was up 69.6% in USD and 109.7% on an FX neutral basis, while unique active users grew by 71.3% year-over-year, reaching 74.0 million.

Items sold reached 229.4 million, increasing by 109.5% year-over-year, with live listings offered on MercadoLibre’s marketplace reaching 275.4 million.

“Growth [during Q4] continued accelerating despite the gradual reopening of physical retail during the period,” the company said.

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