MONTEVIDEO, Uruguay (AP) — MONTEVIDEO, Uruguay (AP) — MercadoLibre SA (MELI) on Thursday reported first-quarter profit of $344 million.

On a per-share basis, the Montevideo, Uruguay-based company said it had profit of $6.78.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $6.64 per share.

The operator of an online marketplace and payments system in Latin America posted revenue of $4.33 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $3.94 billion.

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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