Yahoo Finance MercadoLibre (MELI) Reports Earnings Tomorrow: What To Expect
Latin American e-commerce and fintech company MercadoLibre (NASDAQ:MELI) will be reporting earnings tomorrow after market close. Here's what you need to know.
MercadoLibre beat analysts' revenue expectations by 12.1% last quarter, reporting revenues of $4.33 billion, up 36% year on year. It was a stunning quarter for the company, with impressive growth in its users and exceptional revenue growth. It reported 144.7 million daily active users, up 43.3% year on year.
Is MercadoLibre a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting MercadoLibre's revenue to grow 30.6% year on year to $4.68 billion, slowing from the 38% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $8.34 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MercadoLibre has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 6.7% on average.
Looking at MercadoLibre's peers in the consumer internet segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Pinterest delivered year-on-year revenue growth of 20.6%, meeting analysts' expectations, and Netflix reported revenues up 16.8%, in line with consensus estimates. Netflix traded down 1.5% following the results.
Read our full analysis of Pinterest's results here and Netflix's results here.
There has been positive sentiment among investors in the consumer internet segment, with share prices up 2.5% on average over the last month. MercadoLibre is up 2% during the same time and is heading into earnings with an average analyst price target of $1,994.4 (compared to the current share price of $1,628.01).
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