Investing.com - MercadoLibre (NASDAQ:MELI) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
MercadoLibre announced earnings per share of $1.3 on revenue of $2.25B. Analysts polled by Investing.com anticipated EPS of $1.2 on revenue of $2.02B.
MercadoLibre shares are down 32.27% from the beginning of the year and are trading at $987.00 , down-from-52-week-high.They are under-performing the Nasdaq which is down 21.27% from the start of the year.
MercadoLibre shares gained 8.08% in after-hours trade the report.
MercadoLibre follows other major Consumer Discretionary sector earnings this month
MercadoLibre's report follows an earnings missed by Amazon.com on April 28, who reported EPS of $-7.56 on revenue of $116.44B, compared to forecasts EPS of $8.35 on revenue of $116.45B.
Tesla had beat expectations on April 20 with first quarter EPS of $3.22 on revenue of $18.76B, compared to forecast for EPS of $2.26 on revenue of $17.87B.
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