MercadoLibre stock jumped as much as 14% in after-hours trading after Latin American e-commerce and fintech giant’s profit far surpassed estimates. The strong finish to the year comes after a third quarter that disappointed investors prompting a selloff after multiple profit metrics missed on the back of increased investments in logistics and credit. The company which gets the bulk of its business from Brazil, Mexico and Argentina grew its assets under management to US$10.6 billion and its credit book to US$6.6 billion with the credit card portion of the portfolio more than doubling in the past year.
February 20, 2025
SOURCE: BUENOS AIRES TIMES
MercadoLibre shares rally after record quarter of profit