MercadoLibre Jumps After Results Show ‘Profitable Growth’

Latin American e-commerce retailer and fintech provider MercadoLibre Inc. is reaping the rewards of its investment across the region over the past years, posting record revenue and better-than-expected profits even as the region’s economies cool down.

Net sales in the three months through June 30 jumped 53% from a year earlier to $2.6 billion, according to a statement Wednesday, topping the $2.5 billion average estimate of analysts surveyed by Bloomberg. Operating margins fell to 9.6% from 9.8% in the same period last year, while Wall Street was bracing for a sharper contraction to about 7%.