{"id":16317,"date":"2014-03-03T08:50:30","date_gmt":"2014-03-03T13:50:30","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=16317"},"modified":"2014-03-03T07:05:08","modified_gmt":"2014-03-03T12:05:08","slug":"mercadolibre-inc-nasdaqmeli-reported-higher-than-expected-results-for-fourth-quarter","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/mercadolibre-inc-nasdaqmeli-reported-higher-than-expected-results-for-fourth-quarter-16317","title":{"rendered":"Mercadolibre Inc (NASDAQ:MELI) Reported Higher Than Expected Results For Fourth Quarter"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 03\/03\/2014 (wallstreetpr) &#8211; <b>Mercadolibre Inc (NASDAQ:MELI) <\/b>increased more than 10% on Friday close as the Latin America based payments processor reported better than expected results for the fourth quarter 2013.<\/p>\n<p style=\"text-align: justify;\">The Argentina based e-commerce and online auctions specialist reported 29.8% increase in quarterly revenue year over year which reached up to $134.6 million. This surpasses analysts\u2019 estimation of quarterly revenue of $133.2 million. The revenue translated to 35% growth in net income which was $40.8 million that is $0.93 a share. Analysts, on average, were hoping for earnings of $0.78 per share.<\/p>\n<p style=\"text-align: justify;\">Local-currency sales increased by almost 50% in the fourth quarter and resulted in year over year revenue of 49.7%. The results, which were more appealing in this context, resulted in a growth in net income of as much as 58.1%. Apart from this, dollar revenue also increased by 30%. Payment transaction as well as item volumes also showed profits with earnings per share increasing by 35%.<\/p>\n<p style=\"text-align: justify;\"><b>More Innovations In 2014<\/b><\/p>\n<p style=\"text-align: justify;\">Mercadolibre Inc (NASDAQ:MELI)\u2019s Chief Executive Officer, Marcos Galperin said the company looks forward to come up with more innovation this year. He said that the strong results in the reported year highlight the optimistic momentum in the market and payments as the company continuously sought improvements in end user experience. The company seeks to exploit the radical shift in trend in Latin Americans who now indulge more in online shopping than offline. Even analysts believe in growth of the up and coming e-commerce giant given the increasing market share being captured by online shopping.<\/p>\n<p style=\"text-align: justify;\">After reporting these impressive results, Mercadolibre Inc (NASDAQ:MELI), which is <b>eBay Inc (NASDAQ:EBAY)<\/b>\u2019s Latin American partner, surged up by almost 11%. The company is the latest to follow the trend of e-commerce companies, among which a lot others have also reported huge jumps this week. The company had expanded its activities rapidly from Argentina to Brazil and other south Amercian countries and Mexico.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 03\/03\/2014 (wallstreetpr) &#8211; Mercadolibre Inc (NASDAQ:MELI) increased more than 10% on Friday close as the Latin America based payments processor reported better than [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":16318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[1821,4799,718,4800],"stock_ticker":[],"class_list":["post-16317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-ebay-inc-nasdaqebay","tag-mercadolibre-inc-nasdaqmeli","tag-nasdaqebay","tag-nasdaqmeli","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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