MercadoLibre Tumbles After Net Income Miss on Spending Boost

Shares of MercadoLibre Inc. fell to their lowest level in more than a year after fourth-quarter net income missed analysts’ estimates as the company continued to invest heavily in its main business lines.

The stock closed 8% lower — its worst session since Nov. 20 — after the Montevideo, Uruguay-based firm published its earnings results on Tuesday afternoon. MercadoLibre posted $559 million in net income, below the average forecast for $596 million, according to data compiled by Bloomberg.