RTTNews | Aug 10, 2020 08:55AM EDT

08:55 Monday, August 10, 2020 (RTTNews.com) - MercadoLibre Inc. (MELI), Latin America's leading e-commerce technology company, reported that its second-quarter net income rose to $55.9 million or $1.11 per share from $16.2 million or $0.31 per share in the previous year.

Net revenues for the second quarter were $878.4 million, a year-over-year increase of 61.1% in USD and 123.4% on an FX neutral basis.

Analysts polled by Thomson Reuters expected the company to report net income of $0.02 per share and revenues of $759.53 million for the quarter. Analysts' estimates typically exclude special items.

Unique active users grew 45.2% reaching 51.5 million. Gross merchandise volume reached $5.0 billion, representing an increase of 48.5% in USD and 101.5% on an FX neutral basis.

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