China's Autohome Floors It On Sales, User-Base: Details
Portfolio Pulse from Lekha Gupta
Autohome Inc (NYSE:ATHM) reported first-quarter FY24 revenues of $222.9 million, surpassing consensus estimates. The company saw growth in leads generation and online marketplace revenues, with adjusted net income rising to $68.4 million. Autohome's user base also grew, with daily active users increasing by 8.1% year-over-year. The company's focus on data products and new energy vehicle brands contributed to its revenue growth. ATHM shares rose by 3.99% to $28.09. Exposure to ATHM can be gained through Invesco China Technology ETF (NYSE:CQQQ) and American Century ETF Trust Avantis Emerging Markets Small Cap Equity ETF (NYSE:AVEE).
May 08, 2024 | 1:51 pm
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POSITIVE IMPACT
Autohome Inc reported higher than expected Q1 FY24 revenues and adjusted net income, with significant user base growth and a positive outlook on its innovative and NEV brand businesses.
The positive earnings report and growth in key business areas likely contribute to investor optimism, driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
American Century ETF Trust Avantis Emerging Markets Small Cap Equity ETF, potentially holding ATHM, could see indirect benefits from Autohome's positive earnings report.
Given AVEE's focus on emerging markets and potential inclusion of ATHM, the ETF might benefit from Autohome's earnings beat and subsequent stock price increase.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Invesco China Technology ETF, which includes ATHM as part of its holdings, may see positive movement due to Autohome's strong earnings report.
As a holder of ATHM shares, CQQQ may experience positive price action due to the ripple effect of Autohome's better-than-expected earnings.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70