Autohome Q2 Profit Rises - Quick Facts

(RTTNews) - Autohome Inc. (ATHM), online destination for automobile consumers in China, said that net income for the second quarter of 2014 increased 68.8% to RMB206.3 million or $33.3 million from RMB122.2 million in the corresponding period in 2013. Earnings per share for the second quarter was RMB1.83 or $0.30 compared to RMB1.21 in the previous year.

Adjusted net income for the second quarter increased 68.4% to RMB219.6 million ($35.4 million) from RMB130.4 million in the prior year. Non-GAAP earnings per share for the second quarter were RMB1.95 or $0.31, compared to RMB1.29 in the prior year.

Net revenues for the second quarter increased 71.8% to RMB506.8 million or $81.7 million from RMB295.0 million in the corresponding period in 2013. The increase was due to increases in both the Company's advertising services revenues and dealer subscription services revenues.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.64 per share and revenues of $482.79 million for the quarter. Analysts' estimates typically exclude special items.

Autohome currently expects to generate net revenues in the range of RMB507.0 million or $81.7 million to RMB528.0 million or $85.1 million in the third quarter of fiscal year 2014, representing a 53.1% to 59.4% year-over-year increase. Analysts expect the company to report revenues of $515.38 million for the third-quarter.