MercadoLibre Posts Strong Q4 Sales But Misses Earnings on Tax Expenses; Stock Down 8%
• MercadoLibre reported better-than-expected Q4 sales of $4.3 billion, but missed earnings expectations due to one-time tax expenses
• Adjusted EPS was $3.25 vs $7.10 expected; net income was $165 million vs $361 million expected
• Revenue grew 42% year-over-year; payments volume grew 57% and ecommerce GMV grew 40%
• MELI stock is down 8% after hours following the mixed report
• The company attributed the earnings miss to one-off tax hits in Brazil