ATHM - Why Shares of Autohome Slumped Today
Shares of Autohome (NYSE: ATHM) sank on Tuesday after the Chinese platform for automobile consumers reported its third-quarter results. Autohome missed analyst estimates across the board, and its guidance was below expectations. The stock was down about 12.2% at 11:45 a.m. EST.
Autohome reported third-quarter revenue of $303.6 million, up 14.9% year over year but about $2.4 million below the average analyst estimate. Media services revenue was $129.3 million; leads generation services revenue was $116.0 million; and online marketplace and other revenue was $58.3 million. Non-GAAP (adjusted) earnings per share came in at $0.82, down 4.9% year over year in local currency and $0.01 below analyst expectations.
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