5 Stocks Making Moves After Earnings Reports

1. MercadoLibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 74

Shares of MercadoLibre, Inc. (NASDAQ:MELI) jumped over 10 percent in the pre-market trading session on Wednesday, February 23, 2022, despite its mixed financial performance for the fourth quarter.

MercadoLibre, Inc. (NASDAQ:MELI) reported a loss of 92 cents per share, narrower than a loss of $1.02 per share it posted for the comparable period of 2020. But on the contrary, analysts were looking for earnings of 95 cents per share.

On the bright side, the quarterly sales of $2.1 billion were up 73.9 percent versus last year and above the consensus of $2.03 billion. Commerce revenue for the quarter jumped 55.6 percent to $1.357 billion, while fintech revenue climbed 70.1 percent to $773 million.

Among other updates, MercadoLibre, Inc. (NASDAQ:MELI) reported that the total payment volume for the quarter reached $24.2 billion, translating to a year-over-year surge of 72.8 percent. In addition, its gross merchandise volume also surged 32.2 percent versus last year to $8 billion.

Speaking on the results, CFO of MercadoLibre, Inc. (NASDAQ:MELI), Pedro Arnt, said:

“Last year presented us with challenges, and with those also came many more opportunities. With our teams’ resilience and focus on delivering on our strategic objectives, we have been able to overcome shifting pandemic lockdown measures, rising inflationary cost pressures and a highly competitive environment in the digital commerce space. The final outcome was a year with record results across the board, sustained strong growth in key business metrics and topline, and improving margins and operating income for a second consecutive year.”

You can also take a peek at 11 Best Robotics Stocks To Buy For 2022 and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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