MercadoLibre up, despite devaluation
08 Aug 2014
Despite having a $57.4 million loss as a result of a devaluation in the Venezuelan Bolívar, MercadoLibre (Nasdaq:MELI) posted strong second quarter (Q2) results.
According to the company’s earnings release, net revenue increased 17.5 percent, year over year, to $131.8 million. In local currencies, that growth rose by 65.9 percent. Brazil, Mercado’s biggest market, grew revenues by 33.8 percent