Why MercadoLibre Stock Jumped on Friday
The Latin American e-commerce powerhouse posted stellar results in its 2024 fourth quarter.
Shares of MercadoLibre (NASDAQ: MELI) rose as much as 12.5% on Friday morning, boosted by a great earnings report. By 12:15 p.m. ET today, the Argentine e-commerce giant's stock had cooled down slightly to a 9.4% gain.
Fourth-quarter revenue rose 37% year over year to $6.06 billion. The company's constant-currency sales soared 96%, backing out the effects of Argentina's ongoing inflation crisis.
Adjusted earnings nearly quadrupled from the year-ago period, landing at $12.61 per share. Your average Wall Street analyst would have settled for earnings near $8.05 per share on revenue of approximately $5.79 billion.
