Zinger Key Points
- Autohome's Q4 revenues hit RMB1.911 billion, with adjusted net income at RMB502.8 million, bolstering investor confidence.
- Autohome's adjusted earnings per ADS surpass consensus, leading to a surge in stock value.
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Autohome ATHM shares are trading higher on Tuesday.
The company reported fourth 2023 revenues of RMB1.911 billion ($269.2 million), up 1% year-on-year, beating the consensus of $265.60 million.
China’s online destination for automobile consumers posted an adjusted earnings per ADS of $0.58, beating the consensus of $0.57.
Adjusted net income was RMB502.8 million ($70.8 million), compared to RMB668.5 million in the year-ago period.
Quarterly media services revenues were RMB500.5 million ($70.5 million), compared to RMB610.2 million a year ago.
Fourth quarter leads generation services revenues were RMB841.5 million ($118.5 million), compared to RMB786.8 million.
Online marketplace and others revenues were RMB569.5 million ($80.2 million) in the fourth quarter of 2023, compared to RMB496.2 million a year ago.
As of December 31, 2023, the company repurchased 6.73 million American depositary shares for a total cost of approximately $200 million.
As of December 31, 2023, the company had cash and cash equivalents and short-term investments of RMB23.55 billion ($3.32 billion).
Price Action: ATHM shares are up by 11.6% at $26.84 on the last check Tuesday.
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