Mercadolibre, Inc. (MELI) Monday reported first-quarter profit of $17.5 million or $0.40 per share, down from $19.63 million or $0.45 per share in the same period last year.
Adjusted earnings for the quarter was $23.4 million or $0.53 per share. On average, nine analysts polled by Thomson Reuters expected the company to earn $0.54 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues grew 36.3 percent to $102.7 million from $83.74 million last year. Analysts expected revenues of $97.44 million.
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