MercadoLibre (MELI) Stock Slips After Q3 Profit Miss as Logistics Costs Weigh on Margins
Photo: CoinCentral
TLDR MercadoLibre (MELI) fell about 8% after hours to around $1,600 after missing Q3 profit estimates. Net income hit $448 million, below the $476 million analysts expected, but up 6% from a year ago. Revenue rose 45% to $10.75 billion and beat estimates, led by Brazil. Operating margin dropped to 6.3% as fulfillment capacity grew about 20% from the prior quarter. The CEO said the company will not let outside AI shopping agents place orders on its platform for now. MercadoLibre (MELI) stock dropped about 8% in extended trading on Wednesday, to around $1,600.
Source: CoinCentral
