Mercadolibre's Quarter Was Far Better Than It Looked

Going into MercadoLibre's (NASDAQ: MELI) first-quarter financial report, there was a lot of uncertainty. Last quarter, the company deconsolidated the results of its Venezuelan subsidiary from its financial statements, because of rampant hyperinflation in the country and Venezuela's recent default on its bonds.The company also announced a change to its capital allocation policy, suspending its dividend in favor of investing in the business.

 

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