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Mercado Libre Inc. (NASDAQ:MELI) shares are trending on Thursday night.
MELI shares tumbled 5.59% to $1,765.52 after the bell on Thursday despite the e-commerce and financial technology firm announcing its first quarter results, where it reported revenue beating analyst estimates by 5.97%.
What Does Q1 Data Say?
Mercado Libre’s fiscal quarter ending March 31 posted net revenue of $8.8 billion, topping the analyst estimate of $8.3 billion.
The Uruguay-based company also reported earnings per share of $8.23, which was below the analyst estimate of $8.32, missing estimates by 1.08%.
In the last quarter reported in February, MercadoLibre posted revenue of $8.76 billion and EPS of …
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