March 1 (Reuters) - Argentine e-commerce giant MercadoLibre Inc on Monday reported a record quarterly revenue which beat estimates, driven by a dramatic surge in online shopping and digital payments during the COVID-19 pandemic.

Revenue rose to $1.33 billion in the fourth quarter ended Dec. 31 from $674.3 million a year earlier. Analysts on average were expecting revenue of $1.22 billion, according to IBES data from Refintiv. (Reporting by Chavi Mehta in Bengaluru; Editing by Amy Caren Daniel)