Mercado Libre Inc. (NASDAQ:MELI) shares are trending on Thursday night.

MELI shares tumbled 5.59% to $1,765.52 after the bell on Thursday despite the e-commerce and financial technology firm announcing its first quarter results, where it reported revenue beating analyst estimates by 5.97%.

What Does Q1 Data Say?

Mercado Libre’s fiscal quarter ending March 31 posted net revenue of $8.8 billion, topping the analyst estimate of $8.3 billion.

The Uruguay-based company also reported earnings per share of $8.23, which was below the analyst estimate of $8.32, missing estimates by 1.08%.

In the last quarter reported in February, MercadoLibre posted revenue of $8.76 billion and EPS of $11.03.

CFO Martín de los Santos said the company is “investing boldly” and sees a “substantial long-term opportunity” ahead in commerce and fintech across Latin America.

Trading Metrics, Technical Analysis

Mercado has a market capitalization of $94.80 billion, a 52-week high of $2,645.22, and a 52-week low of $1,593.21.

The Relative Strength Index (RSI) of MELI stands at 58.08.

The large-cap stock has dropped 17.33% over the past 12 months.

Currently, the stock is positioned at about 26% of its 52-week range.

Price Action: MELI closed the regular session up 1.57% at $1,870.01, according to Benzinga Pro.

With a strong Growth score of 95.10, Benzinga’s Edge Stock Rankings indicate that MELI is experiencing short-term upward movement along with medium and long-term consolidation.

Photo Courtesy: Piotr Swat on Shutterstock.com

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.