Investing.com - MercadoLibre (NASDAQ:MELI) reported on Monday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
MercadoLibre announced earnings per share of $1.11 on revenue of $878.4M. Analysts polled by Investing.com anticipated EPS of $0.1 on revenue of $757.36M.
MercadoLibre shares are up 108.76% from the beginning of the year, still down 4.18% from its 52 week high of $1,246.01 set on August 6. They are outperforming the Nasdaq 100 which is up 27.55% from the start of the year.
MercadoLibre shares gained 6.79% in pre-market trade following the report.
MercadoLibre follows other major Technology sector earnings this month
MercadoLibre's report follows an earnings beat by Apple on July 30, who reported EPS of $2.58 on revenue of $59.69B, compared to forecasts EPS of $2.05 on revenue of $52.29B.
Microsoft had beat expectations on July 22 with fourth quarter EPS of $1.46 on revenue of $38.03B, compared to forecast for EPS of $1.34 on revenue of $36.54B.
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