12:40 PM EST, 11/07/2024 (MT Newswires) -- MercadoLibre ( MELI ) shares were down nearly 16% in recent trading Thursday after the company reported late Wednesday Q3 net income that missed analysts' expectations.

The company reported Q3 net earnings of $7.83 per diluted share, up from $7.16 a year earlier.

Analysts polled by Capital IQ expected $9.85.

Revenue for the quarter ended Sept. 30 was $5.31 billion, compared with $3.93 billion a year earlier.

Analysts expected $5.28 billion.

Price: 1784.86, Change: -332.45, Percent Change: -15.70