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Autohome Inc (NYSE:ATHM) reported Q3 2023 revenues of RMB1.91 billion ($261.2 million), up 3.4% year-on-year, missing the consensus of $261.7 million.
China's online destination for automobile consumers posted an adjusted earnings per ADS of RMB4.92 ($0.67) beating the consensus of $0.60.
The top line benefitted from solid growth in its online marketplace and other businesses.
According to QuestMobile, mobile DAUs in September increased 39.3% Y/Y to 69.01 million.
Leads generation services revenues stood at RMB830.1 million ($113.8 million), Online Marketplace and others revenues came in at RMB599.1 million ($82.1 million), and Media revenues were RMB476.9 million ($65.4 million) in the quarter.
Autohome held RMB23.43 billion ($3.21 billion) in cash and equivalents. Net cash provided by operating activities was RMB425.0 million ($58.3 million).
Chair and CEO Quan Long stated, "This marks our fifth straight quarter of top and bottom-line growth on a year-over-year basis while consistently maintaining a high net profit margin."
CFO Craig Yan Zeng disclosed tapping new energy vehicles ("NEVs") opportunities by integrating its used car business into Autohome Energy Space stores. These stores now also offer consumers the chance to trade in their cars and apply the proceeds towards purchasing a new one, leveraging the vehicle disposal capacity of TTP Car Inc. The company's 13 Autohome Energy Space stores are now under construction in different cities across China.
The Q4 consensus for revenue is $267.81 million, and EPS is $0.62.
The stock has lost 18.4% YTD.
ATHM Price Action: Autohome shares are up by 1.25% at $26.56 on the last chek Thursday.
Posted In: ATHM
