MONTEVIDEO, Uruguay (AP) — MONTEVIDEO, Uruguay (AP) — MercadoLibre SA (MELI) on Tuesday reported fourth-quarter net income of $559 million.
On a per-share basis, the Montevideo, Uruguay-based company said it had profit of $11.03.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $11.77 per share.
The operator of an online marketplace and payments system in Latin America posted revenue of $8.76 billion in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $8.52 billion.
For the year, the company reported profit of $2 billion, or $39.40 per share. Revenue was reported as $28.89 billion.
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