MercadoLibre Earnings, Revenue beat In Q1

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MercadoLibre Earnings, Revenue beat In Q1
Credit: © Reuters.

Investing.com - MercadoLibre (NASDAQ: MELI ) reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.

MercadoLibre announced earnings per share of $-0.44 on revenue of $652.1M. Analysts polled by Investing.com anticipated EPS of $-0.51 on revenue of $643.07M. That with comparison to EPS of $0.13 on revenue of $473.77M in the same period a year before.MercadoLibre had reported EPS of $-1.11 on revenue of $674.27M in the previous quarter.Analysts are expecting EPS of $-0.4 and revenue of $683.9M in the upcoming quarter.

MercadoLibre shares are up 8.49% from the beginning of the year and are trading at $620.48 , down-from-52-week-high.They are outperforming the Nasdaq which is down 2.55% year to date.

MercadoLibre follows other major Technology sector earnings this month

MercadoLibre's report follows an earnings beat by Microsoft on Wednesday, April 29, 2020, who reported EPS of $1.4 on revenue of $35.02B, compared to forecasts EPS of $1.27 on revenue of $33.76B.

Apple had beat expectations on Thursday with second quarter EPS of $2.55 on revenue of $58.31B, compared to forecast for EPS of $2.24 on revenue of $54.78B.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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