Bitauto Q3 Profit Surges - Quick Facts

(RTTNews) - Bitauto Holdings Ltd. (BITA), a provider of Internet content and marketing services for China's automotive industry, Friday reported third-quarter profit attributable to shareholders of the parent of RMB184.19 million, significantly up from RMB72.32 million in the prior year.

Non-GAAP profit per ADS attributable to shareholders of the parent was RMB3.13.

Revenues for the quarter climbed 60.7% to RMB607.95 million from RMB378.21 million a year ago.

William Li, chief executive officer and chairman of Bitauto said, "In particular, our bitauto.com advertising and EP platform businesses drove positive results with year-over-year revenue growth of 67.8% and 67.6%, respectively....Moving forward, we will remain focused on developing our mobile product and service offerings and executing on our established core growth strategies."

Looking ahead, for the fourth quarter, Bitauto currently expects to generate revenue in the range of RMB720.0 million to RMB740.0 million, representing a 48.9% to 53.0% year-over-year increase.

The firm expects non-GAAP profit attributable to shareholders of the parent in the range of RMB158.0 million to RMB168.0 million.