In addition to beating Q2 estimates, Bitauto (BITA +7.5%) has guided for Q3 revenue of $88.7M-$91.9M, above an $87.4M consensus.
Non-GAAP profit is expected to rise to $20.2M-$21.3M from Q2's $20M. With the Q2 profit figure good for EPS of $0.45, that suggests Q3 EPS should handily beat a $0.39 consensus.
The bitauto.com ad business saw revenue rise 67% Y/Y to RMB294.8M. The Sales for the EP auto listing platform rose 59% to RMB168.1M on the back of 14M sales leads (up from 12M+ in Q1). EP paid subscription months rose to 41.9K from 36.4K in Q1.
Digital marketing revenue rose 7% Y/Y to RMB53.7M, and taoche.com revenue fell 2.7% to RMB5.9M.
Gross margin rose to 80.3% from 75.5% a year ago. Sales/administrative spend grew 40.4% Y/Y to $41.3M, and R&D 42.5% to $5.1M.
Q2 results, PR