Autohome Inc. posted second-quarter results that exceeded analyst expectations, with adjusted earnings per American Depositary Share (ADS) rising to RMB2.46 ($0.36), surpassing the consensus estimate of RMB2.04. Revenue totaled RMB1.20 billion ($176.6 million), marginally above the RMB1.18 billion forecast, though down 32% from RMB1.76 billion in the same period last year.
Net income attributable to the company fell 42% year-over-year to RMB277.3 million ($40.9 million), reflecting weaker demand from automotive dealers and reduced contributions from vehicle sales. Leads generation services revenue declined 24% to RMB560.4 million, while online marketplace and other revenue dropped 52% to RMB357.3 million. Media services revenue remained stable at RMB280.4 million.
Shares of Autohome gained 3.6% in early trading following the earnings release. The company also highlighted progress in its strategic initiatives, including the introduction of an AI-powered intelligent agent product, "Cheese Car Butler," launched in early July and opened for public beta testing.
Autohome’s board authorized a new $400 million share repurchase program on July 28, following the completion of a $200 million buyback initiative in March. Under the latest program, the company repurchased 1,895,093 ADSs for approximately $43.6 million as of August 14.
Chairman and CEO Chi Liu emphasized the company’s focus on expanding its automotive service ecosystem and advancing AI technologies, stating that the quarter saw steady progress in innovation-driven initiatives.
