MercadoLibre Trying To Catch Up (MELI)
MercadoLibre, Inc. (NASDAQ: MELI) may have fallen a long ways from back when Jim Cramer called this one his favorite tech calls from Latin America, but the company is up in after-hours trading and took back most of today’s losses after its earnings.
The largest online commerce platform in Latin America posted itsQ3-2008 EPS of $0.13 on Net Income growth of 110.9% to $5.9 million. Tevenue increased by 76.6% to $40.3 million, and operating income grewby 85.4% to $11.7 million. Excluding retention items, the earningswould have been $0.14 EPS.
Thomson Reuters (First Call) had estimates at $0.12 EPS and $37.85million in revenue, so today’s past results were ahead of whatinvestors expected.
Unfortunately, the company did not offer formal guidance, so until thisconference call is finished it should be considered unfinished business.
This was recently given a solid call over at AmTech as well. With a drop of 11% to $10.33 in regular trading, this stock is down about 85% from its 52-week highs. Yep, eight-five percent. Even with a 10% gain in after-hours trading, this stock has a long way to go before many old holders are going to feel better.
Jon C. Ogg
November 11, 2008