MercadoLibre Slumps Most in Two Years on Profit Shortfall
- EPS of $3.25 trailed consensus of $7.17 on one-time costs
- Fellow tech giant Nu also slips on fourth-quarter profit miss
A worker sorts packaged products at the MercadoLibre fulfillment center in Sao Paulo, Brazil.
Photographer: Jonne Roriz/BloombergThis article is for subscribers only.
MercadoLibre Inc., the Latin American e-commerce and payments giant, fell the most in nearly two years after posting fourth-quarter earnings that fell short of analyst estimates, putting a pause on a major stock rally over the past year.
Shares slumped 13% Friday, the worst intraday drop since May 2022, after the company reporter earnings per share of $3.25 — about half of the $7.17 analysts had forecast. It was the first miss since at least mid-2022, according to data compiled by Bloomberg.