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Mercadolibre’s Q1 Earnings Miss the Mark; Shares Tumble (MELI)

By Dividend.com,  May 09, 2012, 08:43:59 AM EDT

Latin American online commerce giant Mercadolibre Inc ( MELI ) late Tuesday posted first quarter earnings that fell short of Wall Street's view, sending its shares plunging lower in aftermarket trading.

The Buenos Aires-based company reported first quarter net income of $19.6 million, or 45 cents per share, compared with $14.1 million, or 32 cents per share, in the year-ago period.

Revenue rose 36% from last year to $83.7 million.

On average, Wall Street analysts expected a slightly higher profit of 46 cents per share, on larger revenue of $84.3 million.

Mercadolibre shares plunged $6.49, or -7.4%, in premarket trading Wednesday.

The Bottom Line
Shares of Mercadolibre ( MELI ) have a .36% dividend yield, based on last night's closing stock price of $88.20. The stock has technical support in the $74-$80 price area. If the shares can firm up, we see overhead resistance around the $90-$94 price levels.

Mercadolibre Inc ( MELI ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: MELI



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