Mercadolibre Inc. Profit Advances In Q2, Beats estimates

(RTTNews) - Mercadolibre Inc. (MELI) revealed earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $0.12 million, or $2.43 per share. This compares with $0.07 million, or $1.37 per share, in last year's second quarter.

Analysts on average had expected the company to earn $1.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 52.9% to $2.60 million from $1.70 million last year.

Mercadolibre Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $0.12 Mln. vs. $0.07 Mln. last year. -EPS (Q2): $2.43 vs. $1.37 last year. -Analyst Estimate: $1.79 -Revenue (Q2): $2.60 Mln vs. $1.70 Mln last year.