Mercadolibre Inc. Reveals 13% Fall In Q1 Profit

(RTTNews) - Mercadolibre Inc. (MELI) reported earnings for first quarter that declined from last year.

The company said its earnings came in at $30.2 million, or $0.68 per share. This was down from $34.6 million, or $0.78 per share, in last year's first quarter.

Analysts had expected the company to earn $0.56 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 6.4% to $157.63 million. This was up from $148.10 million last year.

Mercadolibre Inc. earnings at a glance:

-Earnings (Q1): $30.2 Mln. vs. $34.6 Mln. last year. -Earnings Decline (Y-o-Y): -12.7% -EPS (Q1): $0.68 vs. $0.78 last year. -EPS Decline (Y-o-Y): -12.8% -Analysts Estimate: $0.56 -Revenue (Q1): $157.63 Mln vs. $148.10 Mln last year. -Revenue Change (Y-o-Y): 6.4%