Mercadolibre Q4 Profit Declines Despite Revenue Growth - Quick Facts

(RTTNews) - Argentinean e-commerce technology company MercadoLibre, Inc. (MELI) reports that fourth-quarter net income declined to $34.15 million or $0.76 per share from $40.76 million or $0.66 per share in the prior-year quarter.

On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.80 per share for the quarter. Analysts' estimates typically exclude special items.

Excluding Venezuela, net income increased 5.2 percent in US dollar, while it declined 7.2 percent in local currencies.

Net revenues for the quarter grew 19.9 percent to $161.37 million from $134.65 million in the same quarter last year. Eight Wall Street analysts had a consensus revenue estimate of $149.22 million for the quarter.

Net revenues surged 69.6 percent in local currencies. Excluding Venezuela, Net revenues grew 40.4 percent in US dollar.