Autohome (ATHM) Q3 2026 earnings summary

Executive summary

• Q3 revenue was RMB1,315.0 million; net income attributable to ordinary shareholders was RMB195.0 million and adjusted net income was RMB252.7 million.

• September mobile DAUs rose 3.4% YoY to 79.14 million, according to QuestMobile.

• Strategic priorities span content, AI-enabled services, vehicle transactions, used cars, and support across the vehicle ownership lifecycle.

Financial highlights

• Revenue was RMB1,315.0 million vs. RMB1,778.1 million a year earlier; media revenue was RMB241.4 million, leads generation RMB526.2 million, and online marketplace and other revenue RMB547.3 million.

• Cost of revenue fell to CNY431 million from CNY646 million YoY; gross margin rose to 67.2% from 63.7%.

• Operating profit was RMB95.7 million vs. RMB147.0 million in Q3 2025.

• Net income attributable to ordinary shareholders was RMB195.0 million vs. RMB419.4 million; adjusted net income was RMB252.7 million vs. RMB406.9 million.

• Sales and marketing expense was CNY575 million vs. CNY620 million; product and development was CNY195 million vs. CNY279 million; G&A was CNY91 million vs. CNY125 million.

Outlook and guidance

• Management expects domestic auto demand to remain pressured short term, with possible recovery and stabilization next year; CPCA forecasts 0%–5% passenger vehicle retail growth, midpoint ~2%.

• Investment priorities include content, AI agents, end-to-end vehicle purchase and sale services, and cross-border services, alongside a streamlined cost structure.

• The domestic used-car service model is being refined for nationwide replication; cross-border operations will focus on supply and efficiency.

• New retail is refining its model and expanding its network; management said the business has begun contributing to revenue and complements the core business.