Bitauto Q3 2012 Profit Up 35% YoY
Bitauto, 11/08/12
Beijing-based automotive website firm Bitauto (NYSE: BITA) today announced its unaudited financial results for the third quarter ended September 30, 2012. Q3 2012 revenue was RMB 276.4 mln (USD 44.0 mln), a 56.4% increase YoY from the corresponding period in 2011.
Net profit for the period was RMB 32.72 mln an increase of 35.2% YoY over RMB 24.20 mln in Q3 2011.
Revenue from the bitauto.com business for the third quarter of 2012 was RMB 222.9 mln (USD 35.5 mln), representing a 78.0% YoY. The increase was attributable to an increase in dealer subscription revenue, as well as an increase in advertising revenue resulting from better brand recognition of the bitauto.com website.
Revenue from the taoche.com business for the third quarter of 2012 was RMB 5.0 mln (USD 0.8 mln), representing a 36.9% decrease YoY from the corresponding period in 2011. This decrease was the result of sales policy adjustments.
Revenue from the digital marketing solutions business for the third quarter of 2012 was RMB 48.5 mln (USD 7.7 mln), representing an 11.4% increase YoY from the corresponding period in 2011, which reflects an increase in spending on advertising and events by customers.
Bitauto currently expects to generate revenue in the range of RMB 310.0 mln (USD 49.3 mln) to RMB 320.0 mln (USD 50.9 mln) in the fourth quarter of fiscal year 2012, representing a 36.1% to 40.5% YoY increase.
To view the complete report please see here.
Keywords: Internet profit revenue online advertising Bitauto BITA Taoche Q3 2012 fiscal report automobile vertical portal
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