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Benzinga

Business

Henry Khederian

Why MercadoLibre Shares Are Rising

MercadoLibre Inc (NASDAQ:MELI) shares are trading higher by 5.8% at $939.53 after the company reported better-than-expected fourth-quarter sales results.

MercadoLibre reported quarterly losses of 92 cents per share. The company reported quarterly sales of $2.10 billion which beat the analyst consensus estimate of $2.03 billion by 3%. This is a 58% increase over sales of $1.33 billion the same period last year.

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