BRIEF: Autohome’s revenue, profit fall on sputtering China car market
ATHM.US
2518.HK
Online car trader Autohome Inc. (ATHM.US; 2518.HK) on Wednesday reported its revenue dropped 6.9% to 1.77 billion yuan ($247 million) in the third quarter, while its net profit fell 24.5% to 426 million yuan.
The revenue decline owed mainly to a 31.6% drop in income from Autohome’s media services division, while a 9.1% increase in its cost of revenues undermined the company’s profit. Still, its board of directors approved a cash dividend of $1.15 per American depositary share (ADS), equal to a payout of about 1 billion yuan. The company’s stock was rose 1.7% in Thursday afternoon trade in Hong Kong.
By A. Au
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