Mercadolibre Q3 Profit Rises, Declares Dividend; Stock Up 15% - Quick Facts

(RTTNews) - Mercadolibre, Inc (MELI), the Latin American e-commerce technology company, Thursday reported third-quarter net income of $33.77 million or $0.76 per share, higher than $29.28 million or $0.66 per share in the prior-year quarter.

Net revenues for the quarter grew 20.2 percent to $147.93 million from $123.06 million in the same quarter last year.

Net revenues surged 89.0 percent in local currencies. Excluding Venezuela, Net revenues grew 58.9 percent in local currencies.

On average, analysts polled by Thomson Reuters projected earnings of $0.65 per share on revenues of $130.99 million for the quarter. Analysts' estimates typically exclude special items.

The company also declared a quarterly dividend of $0.166 per share, payable on January 15, 2015 to shareholders of record as of the close of business on December 31, 2014.