MONTEVIDEO, Uruguay (AP) — MONTEVIDEO, Uruguay (AP) — MercadoLibre SA (MELI) on Monday reported second-quarter net income of $523 million.
On a per-share basis, the Montevideo, Uruguay-based company said it had net income of $10.31.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $12.01 per share.
The operator of an online marketplace and payments system in Latin America posted revenue of $6.79 billion in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $6.52 billion.
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