eHi Car Services Posts Q1 Beat

eHi Car Services reported Monday financial results for Q1, with better-than-expected earnings and revenue; it also provided revenue guidance for Q2 and fiscal 2017. For the quarter ended March 31, the rentals and car services provider in China posted earnings of RMB0.44 ($0.06) per ADS, compared with the prior-year period’s RMB0.05 loss per ADS. Analysts polled by Capital IQ were expecting earnings of RMB0.17 per ADS. Revenue was RMB615.6 million, UP 33.7% from RMB460.5 million in the same quarter last year. The Street view was for revenue of RMB607.8 million.

The company said it expects Q2 revenue of RMB635 million – RMB650 million, versus the Street view of RMB678 million.. For FY17, it anticipates revenue to range RMB2.9 billion – RMB3.0 billion. Analysts are looking for RMB2.91 billion.

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