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 , still down 17.98% from its 52 week high of $756.48 set on February 20. 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 April 29, 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