MEXICO CITY, May 7 (Reuters) - Mercado Libre on Thursday posted a first quarter net profit of $417 million, a 15.6% drop compared to a year earlier and below analyst expectations as the Latin American e-commerce and fintech company poured money into logistics, credit expansion and free shipping.
The company, which runs an online shopping platform and financial tech arm Mercado Pago, reported a 49% jump in revenues to $8.8 billion for the January-to-March quarter, surpassing analysts' $8.3 billion projections.
(Reporting by Iñigo Alexander, Editing by Daina Beth Solomon)
