Mercadolibre Inc. Reveals 18% Drop In Q2 Profit

(RTTNews) - Mercadolibre Inc. (MELI) reported a profit for second quarter that retreated compared to the same period last year.

The company said its bottom line fell to $26.9 million, or $0.61 per share. This was down from $32.7 million, or $0.74 per share, in last year's second quarter.

The company said revenue for the quarter rose 58.6% to $316.53 million. This was up from $199.64 million last year.

Mercadolibre Inc. earnings at a glance:

-Earnings (Q2): $26.9 Mln. vs. $32.7 Mln. last year. -Earnings Decline (Y-o-Y): -17.7% -EPS (Q2): $0.61 vs. $0.74 last year. -EPS Decline (Y-o-Y): -17.6% -Revenue (Q2): $316.53 Mln vs. $199.64 Mln last year. -Revenue Change (Y-o-Y): 58.6%