Autohome (ATHM) reported better-than-expected earnings for the first quarter early Tuesday, as the China auto website provider also nudged second-quarter revenue forecasts higher.
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Autohome reported revenue of $205.35 million, down 3.5% vs. a year earlier but beating the consensus of $201.2 million. It earned an adjusted 70 cents a share, topping estimates for 60 cents.
The company sees second-quarter revenue of $283.8 million to $287 million. That's up roughly 26% vs. a year earlier. Analysts expected $283.2 million.
Shares initially rose 1.4% before the open on the stock market today, but then fell 3% to 94.20. The stock hit a record high of 100.66 on April 18.
35,000 Dealers
Autohome is a leading online market for automobile consumers. The company's cloud platform for used car sellers now covers over 35,000 dealers.
"During the first quarter of 2018, we continued to experience strong growth in all aspects of our businesses and exceeded our top line guidance," said Min Lu, chairman and chief executive.
JD.com (JD), a Chinese e-commerce giant, reported mixed earnings early Tuesday.
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The post Autohome Quarterly Earnings Beat Estimates, Guides Higher appeared first on Investor's Business Daily.
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