Autohome reports Q2 EPS 64c, consensus 57c

Reports Q2 revenue $252.79M, consensus $249.51M. Quan Long, chairman of the board of directors and CEO of Autohome, stated, “During the second quarter of 2023, we actively advanced our C-end strategy, making steady progress across content optimization and business diversification while expanding our traffic through multiple channels. In mid-June, we debuted China’s first mobile exhibition truck featuring a large-scale holographic display, providing consumers in lower- tier cities with more comprehensive information on new energy vehicles (“NEVs”) and enabling NEV brands to expand their reach into these markets, in line with the government’s policy to support NEV consumption in rural areas. We also unveiled our first Autohome Energy Space franchise store in Haikou, Hainan Province, marking the beginning of this new retail franchise model’s expansion nationwide. Moreover, we accelerated the application of AI technology in all business scenarios, enabling our partners to reduce costs and increase efficiency. We developed two decision-making assistant products based on a GPT model, providing both users and customers with more efficient services. Looking ahead, we are confident that with long-term accumulation of cutting-edge technology and growing brand advantages as well as our comprehensive innovation incubation system, Autohome is well positioned to seize the opportunities across the industry and achieve diversified business growth.”