ATHM: Make Downward Adjustment To Reflect The Impact From The Epidemic In China
ATHM will release its 4Q19 results on February 19th before the markets open with a 7am EST conference call. As there is rapid development in China, the impact to ATHM’s 1Q20 is clearer than before. Therefore, we are making downward adjustment to ATHM’s 1Q20 as well as 2020. The company’s 1Q20 revenue is likely to be down 3% Y/Y vs. growth of 6% Y/Y in our prior note; non-GAAP net margin is likely to be down about 3 percentage points compared with 1Q19, vs. flat Y/Y previously.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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