Mercadolibre Inc. Q1 Income Climbs, Beats estimates

(RTTNews) - Mercadolibre Inc. (MELI) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $201 million, or $3.97 per share. This compares with $65 million, or $1.30 per share, in last year's first quarter.

Analysts on average had expected the company to earn $3.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 35.1% to $3.04 billion from $2.25 billion last year.

Mercadolibre Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $201 Mln. vs. $65 Mln. last year. -EPS (Q1): $3.97 vs. $1.30 last year. -Analyst Estimate: $3.08 -Revenue (Q1): $3.04 Bln vs. $2.25 Bln last year.