Reported 2 days ago
MercadoLibre's stock soared to a record high after the company announced a net income of $639 million for the fourth quarter, significantly above analysts' expectations. The Latin American e-commerce and fintech giant also reported a full-year profit of $1.9 billion on $21 billion in revenue, a 38% year-over-year increase. Despite a cautious outlook on credit amid economic uncertainties in Brazil and Argentina, the company's user base continues to grow, buoying investor optimism and leading to a 37% stock price rise year-to-date.
Source: YAHOO