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ATHM - Investors See Better Road Ahead For Autohome Despite Profits Setback
Autohome Inc. American Depositary Shares each representing one class A.
Autohome’s adjusted net income tumbled 40% during the first quarter, less than the 50% drop expected by the market. Relieved investors sent the share price soaring 19% over three trading days.
The company’s business is expected to pick up in the second half of the year as auto production normalizes, policy support kicks in and market demand rallies.
Autohome’s P/E ratio of 12 times indicates it is still valued below its peers.