Autohome Gains Over 11% After Q4 Earnings: Here's The Details
Portfolio Pulse from Nabaparna Bhattacharya
Autohome (NYSE:ATHM) shares surged over 11% following their Q4 earnings report, which exceeded expectations. The company reported revenues of $269.2 million, a 1% increase year-on-year, surpassing the consensus of $265.60 million. Adjusted earnings per ADS were $0.58, beating the consensus of $0.57. Despite a decrease in adjusted net income and media services revenues compared to the previous year, leads generation services and online marketplace revenues saw growth. Autohome also repurchased 6.73 million ADS for about $200 million and reported substantial cash reserves.
February 06, 2024 | 3:53 pm
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Autohome's Q4 earnings report showed better-than-expected results, with a revenue increase to $269.2 million and adjusted earnings per ADS of $0.58, leading to an 11.6% rise in share price.
The positive earnings report, which surpassed consensus estimates, directly contributed to the surge in Autohome's stock price. The growth in leads generation and online marketplace revenues, along with the strategic share repurchase, indicate a strong financial position and operational performance, likely bolstering investor confidence and driving the stock price up in the short term.
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