MercadoLibre expected to report nearly 30% jump in revenue for Q1
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MercadoLibre (NASDAQ:MELI) is scheduled to announce Q1 earnings results on Wednesday, May 3rd, after market close.
The consensus EPS Estimate is $3.31 and the consensus Revenue Estimate is $2.88B (+28.0% Y/Y).
Over the last 3 months, EPS estimates have seen 2 upward revisions and 1 downward. Revenue estimates have seen 4 upward revisions and 2 downward.
The Latin American e-commerce company in late February reported Q4 profit that smashed expectations, helped by a 80% jump in total payment volume and strong growth in gross merchandise volume (GMV).
The GMV metric will once again be in focus for MELI's Q1. The company's revenue is expected to jump nearly 30% Y/Y.
"MercadoLibre's (MELI) strength across the marketplace and non-marketplace businesses is expected to get reflected in first-quarter results," Zacks research said in an earnings preview on Monday.
"The increasing adoption of (MELI's online payment platform) MercadoPago, on the back of the well-performing merchant services and mobile wallet businesses, is expected to have driven the companyâs total payment volume in the quarter to be reported," Zacks research added.
Morgan Stanley in late March said MELI remained a top pick at the brokerage, with analysts seeing a 40% upside for the stock.
Also read a recent analysis on MELI by Julian Lin, investing group leader of Best Of Breed Growth Stocks: MercadoLibre: Downgrading Stock On Argentina Risks.