MercadoLibre Q4 Revenue Beats Expectations but One-Time Tax Hit Sinks Profits Below Estimates
• MercadoLibre's Q4 profit plunged to $165M, below estimates of $356M, due to $351M in one-time tax provisions in Brazil.
• Q4 EPS was $3.25, flat year-over-year and below estimates of $7.09 per share.
• Q4 revenue beat estimates at $4.26B, up 42% year-over-year.
• Total payment volume rose 57.2% to $56.5B and GMV increased 39.9% to $13.5B in Q4.
• Despite the earnings miss, analysts remain bullish on MercadoLibre with a Strong Buy consensus rating.