Autohome (NYSE: ATHM) reported Q1 EPS of $0.71, $0.10 better than the analyst estimate of $0.61. Revenue for the quarter came in at $205.3 million versus the consensus estimate of $201.23 million.

Business Outlook

Autohome currently expects to generate net revenues in the range of RMB1,780 million ($283.8 million) to RMB1,800 million ($287.0 million) in the second quarter of fiscal year 2018, representing a 25.2% to 26.6% year-over-year increase. If excluding direct vehicle sales, this represents a 29.6% to 31.1% year-over-year increase. This forecast reflects the Company\'s current and preliminary view on the market and its operating conditions, which are subject to change.

Starting on January 1, 2018, Autohome adopted a new revenue recognition accounting standard ASC 606. Under ASC 606, the most significant impact on Autohome will be the change from presentation of value-added tax on gross basis to net basis. The above guidance reflects revenues net of value-added tax under the new revenue recognition standard. If presented on gross basis including value-added tax, the same basis as that for the year 2017, net revenues are expected to be between RMB1,950 million ($310.8 million) to RMB1,970 million ($314.1 million) in the second quarter of fiscal year 2018.

For earnings history and earnings-related data on Autohome (ATHM) click here.