Investing.com - MercadoLibre (NASDAQ:MELI) reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
MercadoLibre announced earnings per share of $1.37 on revenue of $1.70B. Analysts polled by Investing.com anticipated EPS of $0.2362 on revenue of $1.49B.
MercadoLibre shares are up 17.28% from the beginning of the year, still down 22.27% from its 52 week high of $2,019.88 set on January 21. They are broadly in line with the S&P 500 which is up 17.22% from the start of the year.
MercadoLibre shares gained 3.82% in after-hours trade following the report.
MercadoLibre follows other major Consumer Discretionary sector earnings this month
MercadoLibre's report follows an earnings beat by Amazon.com on July 29, who reported EPS of $15.12 on revenue of $113.08B, compared to forecasts EPS of $12.23 on revenue of $115.42B.
Tesla had beat expectations on July 26 with second quarter EPS of $1.45 on revenue of $11.96B, compared to forecast for EPS of $0.9417 on revenue of $11.51B.
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