Mercadolibre Inc. Q3 Income Rises, Beats estimates

(RTTNews) - Mercadolibre Inc. (MELI) announced a profit for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $129 million, or $2.56 per share. This compares with $95 million, or $1.92 per share, in last year's third quarter.

Analysts on average had expected the company to earn $2.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 44.6% to $2.69 billion from $1.86 billion last year.

Mercadolibre Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $129 Mln. vs. $95 Mln. last year. -EPS (Q3): $2.56 vs. $1.92 last year. -Analyst Estimate: $2.42 -Revenue (Q3): $2.69 Bln vs. $1.86 Bln last year.