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MercadoLibre Surges After Locked-Down Consumers Flock Online

  • Revenue beat consensus and volume growth sped up in April
  • Stock gained as much as 25% and Citigroup upgraded to buy
The MercadoLibre Inc. Applications As Company Recovers Profitability
Photographer: Sarah Pabst/Bloomberg
Updated on

Shares of MercadoLibre Inc. jumped as Latin America’s largest e-commerce marketplace benefited from accelerating online sales in the region.

The Buenos Aires-based company’s net revenue reached $652 million in the first quarter, beating analysts’ estimate of $629 million. Gross merchandise and total payment volume jumped 34% and 82% on a yearly basis, respectively.