Investing.com - MercadoLibre (NASDAQ:MELI) reported on Monday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
MercadoLibre announced earnings per share of $1.11 on revenue of $878.4M. Analysts polled by Investing.com anticipated EPS of $0.1 on revenue of $757.36M.
MercadoLibre shares are up 108.76% from the beginning of the year and are trading at $1,275.00 , down-from-52-week-high.They are outperforming the Nasdaq 100 which is up 27.55% from the start of the year.
MercadoLibre shares gained 6.79% in pre-market trade after the report.
MercadoLibre follows other major Technology sector earnings this month
MercadoLibre's report follows an earnings beat by Apple on Thursday, July 30, 2020, who reported EPS of $2.58 on revenue of $59.69B, compared to forecasts EPS of $2.05 on revenue of $52.29B.
Microsoft had beat expectations on Wednesday, July 22, 2020 with fourth quarter EPS of $1.46 on revenue of $38.03B, compared to forecast for EPS of $1.34 on revenue of $36.54B.
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