Autohome Beats Q2 Earnings Estimates, Achieves 31.7% Y/Y Growth In Mobile DAUs

Autohome Inc ATHM reported Q2 2023 revenues of $252.79 million, up 5.8% year-on-year, beating the consensus of $249.5 million.

The top line benefitted from solid growth in its online marketplace and other businesses.

Non-GAAP earnings per ADS of $0.64 beat the consensus of $0.57.

Meanwhile, in June 2023 its mobile DAUs grew by 31.7% Y/Y to reach 62.71 million.

Leads generation services revenues stood at $104.8 million, Online Marketplace and others revenues came in at $74.7 million, and Media revenues were $73.4 million in the quarter.

Autohome held $3.22 billion in cash and equivalents. Net cash provided by operating activities was $72 million.

Autohome chair and CEO Quan Long disclosed advancing its C-end strategy, making steady progress across content optimization and business diversification while expanding its traffic through multiple channels.

In mid-June, the company debuted China's first mobile exhibition truck featuring a large-scale holographic display, providing consumers in lower-tier cities with more comprehensive information on new energy vehicles ("NEVs") and enabling NEV brands to expand their reach into these markets, in line with the government's policy to support NEV consumption in rural areas.

Autohome also unveiled its first Autohome Energy Space franchise store in Haikou, Hainan Province, China, marking the beginning of a new retail franchise model's expansion nationwide.

Moreover, the company accelerated the application of AI technology in all business scenarios.

ATHM Price Action: Autohome shares traded up 3.18% at $32.10 Thursday at publication.

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