Autohome Registers 24 Percent Revenue Decline in Q3, Launches $200 Million Share Buyback

By Benzinga
Benzinga
Benzinga
November 19, 2021 Updated: November 19, 2021

Autohome Inc. FY21 revenue decline of 23.8 percent year-on-year to $273.7 million, beating the consensus of $271.3 million.

In September 2021, the mobile daily active users increased by 12.3 percent Y/Y.

Revenues from new energy vehicle (NEV) brands more than doubled Y/Y as it increased its efforts to engage with NEV automakers.

Segments

Online Marketplace and Others Revenues grew 2.5 percent Y/Y to $87.1 million due to TTP’s consolidation.

Leads generation services revenues declined 8.6 percent Y/Y to $119.3 million due to decreased dealer advertising spending.

Due to the semiconductor chip crisis that resulted in lower average revenue per automaker advertiser, Media services revenues reduced 53.2 percent Y/Y to $67.4 million.

Margin

The adjusted net margin contracted 580 bps to 33.1 percent.

Non-GAAP earnings per ADS of $0.72 were in line with the consensus.

Autohome held $2.98 billion in cash and equivalents and generated $88.1 million in operating cash flow.

Share buyback

Autohome launched a $200 million share repurchase program.

Price Action

Autohome shares closed higher by 0.03 percent at $34.25 on Thursday.

By Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

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