MercadoLibre Delivers Triple-Digit Growth From Booming E-Commerce and Digital Payments Business

MercadoLibre (NASDAQ: MELI) reported its second-quarter results before the market opened on Monday, and a surge in e-commerce growth helped the platform shatter already high expectations. The company reported revenue that grew 123% year over year in local currencies to $878.4 million, as businesses in Latin America pivoted online in the face of the pandemic. MercadoLibre also reported net income of $55.9 million, resulting in earnings per share (EPS) of $1.11, up more than 258%.