2024-05-06 17:16:24 ET
Summary
- MercadoLibre released strong Q1 results, exceeding revenue and earnings estimates.
- The company showed strong growth in Brazil and Mexico, as well as in its fintech unit, MercadoPago.
- Despite economic challenges in Argentina, the company's profitability and valuation remain attractive.
Investment Thesis
I recommend buying MercadoLibre ( MELI ) shares. The company released its 1Q24 results on May 2, beating revenue estimates ($4.33 billion, exceeding estimates by $460 million) and earnings (EPS of $6.78, exceeding estimates by $0.83). The company continues to show strong growth in Brazil and Mexico, as well as in fintech KPIs....
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MercadoLibre Q1 2024: Growing Despite Difficulties In Argentina