MONTEVIDEO, Uruguay (AP) — MONTEVIDEO, Uruguay (AP) — MercadoLibre SA (MELI) on Thursday reported second-quarter profit of $531 million.

On a per-share basis, the Montevideo, Uruguay-based company said it had net income of $10.48.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $8.72 per share.

The operator of an online marketplace and payments system in Latin America posted revenue of $5.07 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $4.76 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MELI at https://www.zacks.com/ap/MELI