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NEW YORK -On Thursday, Autohome Inc. (NYSE:ATHM) shares jumped 9.53% in premarket trading Thursday after the Chinese online auto marketplace reported fourth-quarter earnings that beat analyst expectations.
The company posted adjusted earnings per share of RMB4.21 ($0.58), surpassing the consensus estimate of RMB3.43. However, revenue fell short of forecasts, coming in at RMB1.78 billion ($244.3 million) compared to expectations of RMB1.87 billion.
Autohome’s fourth-quarter net income attributable to shareholders declined to RMB320.5 million ($43.9 million) from RMB446.7 million in the same period last year. Revenue also decreased 6.7% YoY to RMB1.78 billion.
Despite the revenue miss, investors appeared to focus on the earnings beat and positive outlook. The company’s online marketplace and others revenues grew 3.3% YoY to RMB588.2 million ($80.6 million) in Q4.
"Throughout the year, we focused on integrating our online-to-offline ecosystem, achieving significant milestones in user growth, content matrix enhancements, new retail business expansion, and the promotion of AI applications," said CEO Song Yang.
For the full year 2024, Autohome reported net income attributable to shareholders of RMB1.68 billion ($230.3 million) on revenue of RMB7.04 billion ($964.4 million).
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