Why Shares of BitAuto Holdings Are Surging Today [The Motley Fool]
BITAUTO HOLDINGS (BITA)
Last bitauto holdings earnings: 3/26 06:00 am
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ir.bitauto.com
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Source: The Motley Fool
The Chinese automotive services company easily beat expectations. Timothy Green ( TMFBargainBin ) Jun 13, 2018 at 1:50PM What happened Shares of BitAuto Holdings ( NYSE:BITA ) jumped on Wednesday following the company's first-quarter report. The provider of internet content, marketing, and transaction services for the automotive industry in China easily beat analyst estimates across the board, posting blistering revenue growth well above expectations. The stock was up about 8% at 12:20 p.m. EDT after being up as much as 14.5% earlier in the day. So what BitAuto reported first-quarter revenue of $346.1 million, up 52.3% year over year and about $37.6 million above the average analyst estimate. Transaction services revenue more than doubled year over year to $186.9 million, while advertising and subscription revenue rose 16.3% to $125.5 mil
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