Shares of Autohome Inc. (ATHM), a leading online auto platform in China, plunged over 6% on Wednesday despite the company reporting better-than-expected third-quarter earnings. The stock's decline came as investors grew concerned about the company's slowing revenue growth, even as it continues to expand its presence across the automotive sector.

For the quarter ended September 30, Autohome posted non-GAAP earnings per ADS of RMB 4.08 ($0.58), beating the consensus estimate of RMB 3.71. However, total revenue for the quarter came in at RMB 1.78 billion, slightly below expectations of RMB 1.76 billion, as growth moderated to 3.1% year-over-year.

While the company highlighted continued momentum in its online marketplace and new energy vehicle (NEV) segments, which saw revenue growth of 54% year-over-year, the overall revenue growth rate appears to have slowed compared to previous quarters. Some analysts suggest that this deceleration, coupled with potentially high expectations heading into the earnings release, may have contributed to the stock's decline on the day.