The theory going into tech earnings season was that business spending would offset a consumer slowdown. The opposite has been true. Read More...
Motley Fool
Why MercadoLibre Stock Was Climbing Today
Shares of MercadoLibre (NASDAQ: MELI) were climbing today after the Latin American e-commerce company delivered a strong third-quarter earnings report last night and beat estimates on the bottom line. Growth was strong in both e-commerce and payments as gross merchandise volume (GMV) rose 31.5% to $8.6 billion, and total payment volume jumped 76.4% to $32.2 billion. In the shareholder letter, management said, “After a successful third quarter that delivered strong growth and profitability, our attention is now focused on executing well in the fourth quarter, which brings Black Friday, the FIFA World Cup and Christmas back onto the retail calendar.”
