Shares of Autohome Inc. (ATHM), a leading online auto platform in China, fell 5.3% on Wednesday after the company reported mixed third-quarter results, with revenue growth slowing despite beating earnings estimates.
Autohome posted a 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 the expected 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 segments, 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.
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