MONTEVIDEO, Uruguay (AP) — MONTEVIDEO, Uruguay (AP) — MercadoLibre SA (MELI) on Wednesday reported third-quarter net income of $397 million.
The Montevideo, Uruguay-based company said it had profit of $7.83 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $11.27 per share.
The operator of an online marketplace and payments system in Latin America posted revenue of $5.31 billion in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $5.25 billion.
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