Autohome Q1 Tops On Strong Media Services Business

  • Autohome Inc ATHM reported Q1 2023 revenues of $223.3 million, beating the consensus of $216.3 million.
  • The top line benefitted from solid growth in media services.
  • Non-GAAP earnings per ADS of $0.57 beat the consensus of $0.50.
  • In March, the mobile daily active users increased by 41.9% Y/Y, reaching a record high of 64.15 million. 
  • Leads generation services revenues stood at $99.2 million, Online Marketplace and others revenues services revenues came in at $71.6 million, and Media revenues were $52.6 million in the quarter.
  • Autohome held $3.31 billion in cash and equivalents. Net cash provided by operating activities was $149.8 million.
  • Repurchase: As of May 5, 2023, the company repurchased ADS for around $118.8 million.
  • "On the customer side, we have fully implemented our new Autohome Energy Space retail model and initiated franchise stores, further augmenting the scale of our new retail services. We have also made strides in product and technology creation, with expanded application scenarios for our digital products and new AI-powered data products for dealers. These advancements have broadened our business horizons with more comprehensive service offerings that help us maintain our competitive edge," stated Mr. Craig Yan Zeng, CFO.
  • Price Action: ATHM shares traded higher by 1.67% at $28.58 on the last check Thursday.
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