Categories Earnings, Technology

Bitauto Holdings (BITA): Q3 2019 Earnings Snapshot

—  Bitauto Holdings Limited (NASDAQ: BITA) reported third-quarter 2019 earnings of $0.10 per share, vs. $0.39 per share expected.

— Net revenue fell 7% $355.5 million,  vs. $378 million expected. The top line was hurt by weakness in passenger vehicle sales in China.

— Revenue from the advertising and subscription business declined 13% in Q3, even as revenue from the transaction services business rose 4%.

— BITA shares tanked 3.7% following the results.

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