MercadoLibre profit beats estimates, shares rise
Aug 2 (Reuters) - Online trading service provider MercadoLibre Inc posted a higher-than-expected profit on sales of merchandise on its ecommerce platforms.
Shares of the Buenos Aires, Argentina-based company were up 13 percent in after-market trade. They closed at $66.52 on the Nasdaq on Thursday.
The company's net income rose to $25.4 million, or 57 cents per share, in the second quarter, from $14.8 million, or 34 cents per share, a year earlier.
Revenue for the company, partly owned by eBay Inc, rose 28 percent to $88.8 million.
Analysts on average had expected earnings of 49 cents per share on revenue of $88 million, according to Thomson Reuters I/B/E/S.
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