Investing.com - MercadoLibre (NASDAQ:MELI) reported on Tuesday fourth quarter earnings that missed analysts' forecasts and revenue that topped expectations.
MercadoLibre announced a loss per share of 92 cents on revenue of $2.13 billion. Analysts polled by Investing.com anticipated EPS of 99 cents on revenue of $2.02 billion.
MercadoLibre shares are down 34.15% from the beginning of the year, still down 54.93% from its 52 week high of $1,970.13 set on September 2, 2021. In extended trading, the company's shares rose 2.5% on the earnings news.
The company's Chief Financial Officer, Pedro Arnt, said: “Last year presented us with challenges, and with those also came many more opportunities. With our teams’ resilience and focus on delivering on our strategic objectives, we have been able to overcome shifting pandemic lockdown measures, rising inflationary cost pressures and a highly competitive environment in the digital commerce space.
"The final outcome was a year with record results across the board, sustained strong growth in key business metrics and topline, and improving margins and operating income for a second consecutive year.”
During the fourth quarter, the Argentine company headquartered in Buenos Aires saw its unique active users reach 82.2 million, while gross merchandise volume grew to $8 billion, representing an increase of 21.2%.
Furthermore, the company reported successful items sold climbed 25.5% year-over-year to 287.9 million, with live listings offered on the company's marketplace reaching almost 300 million.
MercadoLibre's report follows an earnings beat by Amazon.com on Feb. 3, which reported EPS of $27.75 on revenue of $137.41 billion, compared to forecasts EPS of $3.61 on revenue of $137.68 billion.