MercadoLibre Gains on Earnings Marked by Argentina Rebound
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E-commerce and fintech giant MercadoLibre Inc. rallied after first quarter earnings beat analyst expectations led by a stronger-than-expected rebound in Argentina.
Revenue in the three months through March rose 37% from a year earlier to $5.9 billion, topping the $5.5 billion median estimate in a Bloomberg survey. Net income at $494 million and operating income also came in stronger than expected.