China's Autohome Q4 revenue declines, announces $200 mln buyback

Reuters03-05
China's Autohome Q4 revenue declines, announces $200 mln buyback

Overview

  • China's leading auto platform's Q4 revenue declined yr/yr

  • Adjusted net income for Q4 decreased yr/yr

  • Company announced US$200 mln share repurchase program

Outlook

  • Autohome focuses on AI to drive product innovation and optimize operations

Result Drivers

  • MEDIA SERVICES DECLINE - Reduced advertising spending by ICE automakers amid shrinking sales volumes impacted media services revenue

  • LEADS GENERATION DECLINE - Decline in leads generation services revenue due to fewer paying dealers and lower average revenue per dealer

  • ONLINE MARKETPLACE GROWTH - Online marketplace and others revenues increased, driven by new retail business performance

Company press release: ID:nPn7SplhBa

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Revenue

RMB 1.46 bln

Q4 Adjusted EPS

RMB 2.59

Q4 Adjusted Net Income

RMB 303.7 mln

Q4 Net Income

RMB 233.9 mln

Q4 Operating Expenses

RMB 1.11 bln

Q4 Operating Profit

RMB 92.3 mln

Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 10 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the online services peer group is "buy."

  • Wall Street's median 12-month price target for Autohome Inc is $25.40, about 41.4% above its March 4 closing price of $17.96

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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