Brief News: Autohome's third-quarter profit slightly fell by 1.5% to 420 million yuan
Autohome announced its third-quarter performance, with revenue of 1.78 billion yuan and a profit of 420 million yuan, a slight year-on-year decrease of 1.5%. CFO Zeng Yan stated that content diversification has driven user growth, with daily active users on mobile reaching 76.56 million in September, a year-on-year increase of 5.1%. Revenue from online marketing and other businesses increased by 32.1% year-on-year. Operating costs were 646 million yuan, a year-on-year increase of 58%. The company's stock price has fallen by 23% over the past year
The automotive trading platform Autohome (2518.HK; ATHM.US) announced its third-quarter performance on Thursday, with revenue of 1.78 billion yuan, roughly the same as the same period last year; net profit for the period was 420 million yuan, a slight decrease of 1.5% year-on-year.
Autohome's Chief Financial Officer Zeng Yan stated that significant achievements in content diversification have strongly driven user growth. According to QuestMobile data, the company's daily active users on mobile reached 76.56 million in September, a year-on-year increase of 5.1%. Additionally, benefiting from the strong contribution of its new retail business, revenue from online marketing and other businesses achieved a year-on-year growth of 32.1%.
The company's operating costs in the third quarter were 646 million yuan, a year-on-year increase of 58%. The company explained that the high transaction costs were due to the expansion of innovative businesses in lower-tier markets, along with rising equity incentive expenses.
Autohome opened flat on Friday at 48.6 Hong Kong dollars, with its stock price down 23% from its high over the past year
