• Chinese online destination for automobile consumers Autohome Inc (NYSE:ATHM) reported a second-quarter FY21 revenue decline of 16.2% year-on-year to $300.2 million, beating the analyst consensus of $287.2 million.
• Segments: Online Marketplace and Others Revenues grew 10% Y/Y to $92.0 million due to TTP's consolidation and the increased contribution from data products.
• Leads generation services revenues declined 11.5% Y/Y to $115.2 million due to decreased dealer advertising spending.
• Due to the semiconductor chip crisis that resulted in lower average revenue per automaker advertiser, Media services revenues reduced 35.7% Y/Y to $92.9 million.
• Data Products revenue grew 47.1% Y/Y aided by higher contribution from OEM data products.
• Margin: The gross margin contracted 203 bps to 86.5% as costs declined 1.4% Y/Y.
• Non-GAAP earnings per ADS were $0.97 beating the analyst consensus of $0.96.
• Autohome held $2.85 billion in cash and equivalents as of June 30, 2021. It generated $90 million in operating cash flow during Q2.
• The revenues from NEV brands jumped 238% Y/Y in Q2.
• Autohome maintained its position in the auto media vertical with mobile daily active users increasing 16.1% Y/Y.
• Price Action: ATHM shares closed higher by 6.08% at $41.88 on Tuesday.