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MONTEVIDEO, Uruguay (AP) — MONTEVIDEO, Uruguay (AP) — MercadoLibre SA (MELI) on Wednesday reported first-quarter net income of $494 million.
The Montevideo, Uruguay-based company said it had net income of $9.74 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $7.67 per share.
The operator of an online marketplace and payments system in Latin America posted revenue of $5.94 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $5.53 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MELI at https://www.zacks.com/ap/MELI