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MercadoLibre profit beats as more customers sell goods online
August 1, 2013 / 8:32 PM / 4 years ago

MercadoLibre profit beats as more customers sell goods online

Aug 1 (Reuters) - Latin American e-commerce company MercadoLibre Inc reported quarterly results above analysts’ expectations as more customers used its platform to trade merchandise online.

The U.S.-listed shares of the Buenos Aires, Argentina-based company jumped much as 24.3 percent in after-market trade.

Gross merchandise volume - sum of transactions completed through the company’s online marketplace - rose 32.8 percent to $1.73 billion.

The company’s net income attributable to common shareholders rose to $30 million, or 67 cents per share, in the second quarter, from $25.4 million, or 57 cents per share, a year ago.

Revenue rose 26 percent to $112.2 million.

Analysts on average had expected the company to earn 62 cents per share, excluding items, on revenue of $107.6 million, according to Thomson Reuters I/B/E/S.

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