Prnewswire·2024-02-06 09:30Core Insights - Autohome Inc. reported solid growth in total revenues and user traffic for the year 2023, with net revenues reaching RMB7.18 billion (US$1.01 billion), a year-over-year increase of 3.5% from RMB6.94 billion in 2022 [3][4] - The company experienced a decline in net income attributable to Autohome in Q4 2023, amounting to RMB446.7 million (US$62.9 million), down from RMB594.1 million in Q4 2022 [11][12] - Autohome's adjusted net income (Non-GAAP) for 2023 was RMB2.16 billion (US$304.2 million), slightly down from RMB2.17 billion in 2022 [21][28] Financial Performance Fourth Quarter 2023 Highlights - Net revenues were RMB1,911.4 million (US$269.2 million), a slight increase from RMB1,893.3 million in Q4 2022 [2][5] - Media services revenues decreased to RMB500.5 million (US$70.5 million) from RMB610.2 million in the same period last year [5] - Leads generation services revenues increased to RMB841.5 million (US$118.5 million) from RMB786.8 million [5] - Online marketplace and others revenues rose to RMB569.5 million (US$80.2 million) from RMB496.2 million [5] Full Year 2023 Highlights - Net income attributable to Autohome was RMB1,935.3 million (US$272.6 million), up from RMB1,855.2 million in 2022 [3][20] - Media services revenues for the year were RMB1,870.8 million (US$263.5 million), down from RMB1,963.3 million [14] - Leads generation services revenues increased to RMB3,111.8 million (US$438.3 million) from RMB3,056.9 million [14] - Online marketplace and others revenues grew significantly to RMB2,201.5 million (US$310.1 million) from RMB1,920.6 million [14] Cost and Expenses - Cost of revenues for Q4 2023 was RMB367.9 million (US$51.8 million), slightly down from RMB370.6 million in Q4 2022 [6] - Operating expenses increased to RMB1,242.8 million (US$175.0 million) from RMB1,088.3 million in the same quarter last year [7] - Sales and marketing expenses rose to RMB730.1 million (US$102.8 million) from RMB672.6 million [8] Profitability Metrics - Operating profit for Q4 2023 was RMB366.7 million (US$51.7 million), down from RMB513.3 million in Q4 2022 [9] - The company reported an income tax expense of RMB127.6 million (US$18.0 million) in Q4 2023, compared to RMB76.9 million in Q4 2022 [10] - Basic and diluted earnings per share (EPS) for Q4 2023 were RMB0.89 (US$0.13), down from RMB1.18 in Q4 2022 [12] User Engagement and Growth - Autohome's mobile daily active users grew by 25.4% year-over-year to 68.19 million in December 2023, reflecting the effectiveness of its content-focused user growth strategy [4] - The online marketplace and others business segment grew by 14.6% year-over-year, contributing significantly to total revenue [4] Shareholder Returns - The company completed a US$200 million share repurchase program by the end of 2023 [4] - Autohome significantly increased its dividend payout to shareholders, demonstrating a commitment to generating returns for investors [4]