5 Earnings Reports Catching Investors’ Attention

3. MercadoLibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 74

Shares of MercadoLibre, Inc. (NASDAQ:MELI) turned green in the pre-market trading session on Friday, May 6, 2022, after its financial results for the first quarter improved significantly over last year.

MercadoLibre, Inc. (NASDAQ:MELI) reported earnings of $1.30 per share, swinging from a loss of 68 cents per share in the year-ago period. Revenue for the quarter climbed 63 percent versus last year to $2.2 billion. Analysts were looking for earnings of $1.35 per share on revenue of $2.02 billion.

Among other updates, MercadoLibre, Inc. (NASDAQ:MELI) reported that total payment volume for the quarter jumped to $25.3 billion, from $14.72 billion in the same period of the prior year. In addition, gross merchandise volume increased to $7.7 billion, from $6.05 billion in the year-ago quarter.

Addressing shareholders, MercadoLibre, Inc. (NASDAQ:MELI) said in a statement:

“Mercado Libre is coming out of the pandemic period stronger than we were two years ago with a more mature business at scale, a larger team with complementary capabilities and much better services and experiences for our users in all of our key geographies. While the business is stronger than ever before, we are facing a challenging backdrop with uncertainty surrounding consumer spending, higher interest rates and higher inflation in addition to coming out of a period of social mobility restrictions in key markets.”