Autohome (ATHM) Q2 2025 earnings summary

Executive summary

• Advanced O2O strategy and AI-driven product innovation enhanced user experience and reduced costs.

• Expanded new retail ecosystem with over 200 franchisors and stores, boosting service coverage.

• Launched international website featuring 1,900 models from 52 Chinese brands, supporting global expansion.

• Net revenues for Q2 2025 were $1.76 billion (RMB1,758.1 million), down from RMB1,872.6 million year-over-year.

• Mobile daily active users grew 11.5% year-over-year to 75.74 million in June 2025.

Financial highlights

• Net revenues for Q2 2025 were $1.76 billion; online marketplace and others revenues up 20.5% year-over-year.

• Cost of revenues rose to $503 million (RMB503.4 million) from $346 million (RMB346.1 million) in Q2 2024.

• Gross margin declined to 71.4% from 81.5% year-over-year.

• Operating profit was $297 million (RMB296.6 million), down from $412 million (RMB412.4 million) in Q2 2024.

• Adjusted net income attributable was $476 million (RMB475.7 million), compared to $572 million (RMB572.4 million) in Q2 2024.

Outlook and guidance

• Media services business expected to improve in H2 2025 as OEM advertising budgets recover.

• Bullish outlook for media services in H2 2025 compared to H1.

• Plans to expand AI applications and deepen the O2O automotive ecosystem.

• Focus on electrification, intelligence, and globalization to transform the automotive consumer experience.

• Continued investment in AI, O2O ecosystem, and global expansion to drive future growth.