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Markets News

MercadoLibre beats quarterly revenue estimates

Nov 4 (Reuters) - MercadoLibre Inc, Latin America’s top e-commerce firm, reported better-than-expected third-quarter revenue on Wednesday, helped by a surge in online shopping and digital payment transactions during the COVID-19 pandemic.

The company’s revenue rose 85% to $1.12 billion in the third quarter ended Sept. 30 from $603.03 million, much above analysts’ average estimate of $972.31 million, according to IBES data from Refinitiv. (Reporting by Chavi Mehta in Bengaluru; Editing by Ramakrishnan M. and Maju Samuel)

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