Autohome Weathers Covid Storm, Revs Up for Speedier Second Half

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Key takeaways: 1、Autohome’s revenue rose strongly on a sequential basis in the second quarter despite a year-on-year decline, sparking a rally for its stock 2、Company should benefit in the second half from new vehicle launches and government measures to stimulate vehicle consumption What is it about an internet auto platform whose profits declined in the second quarter that has still managed to win over investors? For leading internet auto trader  Autohome   Inc . (ATHM.US; 2518.HK), the bottom line clearly wasn’t the market’s focus when the company  announced  its second-quarter financials last week. The company’s non-GAAP adjusted net profit, which strips out non-cash expenses like stock incentives, fell by 40.6% year-on-year to 470 million yuan ($69.6 million) during the quarter, marking a second consecutive decline of more than 40%. Despite that, however, the company’s business performance looked relatively solid in the face of lockdowns in major Chi ………………………………