Autohome Beats On Q3 Earnings, Board Authorizes Stock Buyback Term Extension

Autohome Beats On Q3 Earnings, Board Authorizes Stock Buyback Term Extension
  • Autohome Inc ATHM reported third-quarter FY22 revenue growth of 4.5% year-on-year to $259.13 million, beating the consensus of $251.8 million.
  • In September, the average daily users increased by 13.4% Y/Y. 
  • Segments: Online Marketplace and Others Revenues declined 14.7% Y/Y to $67.3 million, primarily attributable to automakers' decreased spending on data products.
  • Leads generation services revenues rose 5.3% Y/Y to $113.7 million due to the average revenue growth per dealer.
  • Media services revenues grew 28% Y/Y to $78.1 million, primarily attributable to the increase in average revenue per automaker advertiser.
  • Margin: The adjusted net margin expanded 110 bps to 33.1%.
  • Non-GAAP earnings per ADS of $0.66 beat the consensus of $0.61.
  • Autohome held $3 billion in cash and equivalents.
  • On November 3, 2022, the Board authorized an extension of the term of the Share Repurchase Program worth $200 million for another twelve months to November 17, 2023.
  • Price Action: ATHM shares traded higher by 5.08% at $30.22 on the last check Thursday.
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