Bitauto (BITA) Tops Q4 EPS by 45c

Bitauto (NYSE: BITA) reported Q4 EPS of RMB1.68, RMB0.45 better than the analyst estimate of RMB1.23. Revenue for the quarter came in at RMB1.24 billion versus the consensus estimate of RMB1.22 billion.

r. William Li, chief executive officer and chairman of Bitauto commented, "We are pleased to announce healthy results for the fourth quarter of 2015, with revenue growing 27.1% year-over-year. For the full year 2015, Bitauto made significant progress across our businesses and delivered strong growth. Our top-line grew 63.1% year-over-year, with revenue from our EP platform growing 122.3% year-over-year in 2015."

"In 2015, Bitauto generated over 100 million sales leads for our automobile customers, with approximately 70% of leads generated from mobile. Our EP platform maintained its industry leading position with peak paid customers exceeding 24,900 in 2015. We continued to make strategic investments and expanded our automobile transaction services offering in order to optimize consumers' automobile buying experience online and offline. We have successfully developed various growth initiatives in Bitauto's automobile transaction services business which have been well received by the market."

"Looking to 2016, we will continue to execute on Bitauto's core business strategies to strengthen our industry leadership. First, we will continue to optimize our offline service infrastructure, further develop our transaction services, including automobile transactions, CRM and automotive financing services, and improve the overall efficiency of our transaction services. Second, we will strive to further improve the automobile buying experience for customers and enhance Bitauto's brand in the automobile transaction market. Third, we will continue to increase our mobile monetization capability from core businesses, such as advertising and transaction services, through tighter integration with our mobile offerings."

Mr. Andy Zhang, chief operating officer and chief financial officer of Bitauto, said, "Over the past year, Bitauto continued to invest in building our brand and expanding our core businesses, especially the automobile transaction services business. In 2016, we will focus on maintaining growth while enhancing our operating efficiency and solidifying our long-term competitiveness. Beginning from the first quarter of 2016, Bitauto will change its accounting standards from International Financial Reporting Standards (IFRS) to accounting principles generally accepted in the United States of America (U.S. GAAP). In addition, in order to better reflect Bitauto's business structure and provide more clarity regarding its operating performance, beginning from the first quarter of 2016, the company will report financial results across three business segments: advertising and subscription business, transaction services business and digital marketing solutions business."

For earnings history and earnings-related data on Bitauto (BITA) click here.

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