Mercadolibre Inc. Reveals 29% Decline In Q3 Profit

(RTTNews) - Mercadolibre Inc. (MELI) reported a profit for third quarter that lost ground from last year.

The company said its earnings dropped to $27.67 million, or $0.63 per share. This was down from $38.91 million, or $0.88 per share, in last year's third quarter.

Analysts had expected the company to earn $0.62 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 60.7% to $370.66 million. This was up from $230.65 million last year.

Mercadolibre Inc. earnings at a glance:

-Earnings (Q3): $27.67 Mln. vs. $38.91 Mln. last year. -Earnings Decline (Y-o-Y): -28.9% -EPS (Q3): $0.63 vs. $0.88 last year. -EPS Decline (Y-o-Y): -28.4% -Analysts Estimate: $0.62 -Revenue (Q3): $370.66 Mln vs. $230.65 Mln last year. -Revenue Change (Y-o-Y): 60.7%