MercadoLibre Shares Fall on Profit Miss Despite Sales Surge

MercadoLibre Inc.’s shares fell after the e-commerce giant missed analysts’ estimates for net income, overshadowing a jump in revenue from the expansion of the company’s free shipping policies in Brazil.

Revenue in the quarter surged 34% from the previous year to $6.8 billion, above expectations of $6.6 billion. Net income in the second quarter was $523 million, below the $612 million average estimate of analysts, according to data compiled by Bloomberg. Shares fell as much as 8.3% in late trading.