MercadoLibre's Q3 Earnings Miss Estimates, Revenues Rise Y/Y

MercadoLibre (MELI) reported third-quarter 2024 earnings of $7.83 per share, which missed the Zacks Consensus Estimate by 30.52% but increased 9.4% year over year.Revenues rose 35% on a year-over-year basis (103% on a FX-neutral basis) to $5.3 billion. The top line surpassed the Zacks Consensus Estimate by 1.11%.Total revenues were driven by accelerating commerce and fintech revenues, which grew 48% and 21% year over year to $2.12 billion and $1.79 billion, respectively.Revenues from MELI’s advertising serv ...