MercadoLibre (NASDAQ: MELI) reported quarterly earnings of $3.25 per share which beat the analyst consensus estimate of $2.40 by 35.42 percent. This is a 453.26 percent increase over losses of $(0.92) per share from the same period last year.
E-commerce companies experienced a slowdown in their businesses in 2022 following the pandemic boost they received in the previous two years. The poor fundamental performance impacted their stock prices.