MercadoLibre (MELI) Q3 Earnings Miss Estimates

Core Insights - MercadoLibre reported quarterly earnings of $7.83 per share, missing the Zacks Consensus Estimate of$ 11.27 per share, but showing an increase from $7.16 per share a year ago [1][2] - The company posted revenues of$ 5.31 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.11% and increasing from $3.76 billion year-over-year [3] - The stock has gained approximately 33% since the beginning of the year, outperforming the S&P 500's gain of 21.2% [4] Earnings Performance - The earnings surprise for the recent quarter was -30.52%, while the previous quarter saw a positive surprise of 20.18% [2] - Over the last four quarters, MercadoLibre has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2][3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is$ 9.14 on revenues of $5.93 billion, and for the current fiscal year, it is$ 37.70 on revenues of $20.53 billion [8] - The estimate revisions trend for MercadoLibre is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [7] Industry Context - The Internet - Commerce industry, to which MercadoLibre belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [9]