NEW YORK (TheStreet) -- Shares of Autohome (ATHM) - Get Report, a China-based company that operates websites dedicated to automobile consumers, surged 11.59% to $42.85 in late morning trading today after the company reported fourth quarter results that topped analysts' estimates, and issued guidance above expectations.

The company reported non-GAAP fourth quarter earnings of 38 cents per diluted share on revenue of $119.12 million, surpassing the average of analysts' estimates for earnings of about 27 cents on revenue of $102.19 million.

"We have a fast growing dealer network in the industry, reaching 17,080 dealer subscribers in the fourth quarter, and we are continuing to gain market share in this area. This positions us to benefit from these important business partnerships and to drive both dealer subscriptions and dealer advertising revenues," CEO James Qin said.

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"Also, we made great progress in expanding our mobile business and have fully transitioned to having both mobile and PC oriented operations. Lastly, we successfully built out a strong online transaction platform, the Autohome Mall, with its proven capability to facilitate transactions for automakers and dealers. A well-established platform, together with our broadest user base and strong brand equity, positions us well on the way to reach our goal to be the number one automobile transaction facilitator in the online ecosystem in China," Qin added.

Autohome currently expects to generate net revenues in the range of $92.4 million to $97 million in the first quarter of fiscal year 2015, representing a 67.5% to 76% year-over-year increase. This was well above the average of analysts' estimates that had expected about $82.8 million.

Autohome Inc. is an online destination for automobile consumers in China. Through its two websites, autohome.com.cn and che168.com, it delivers independent and interactive content to automobile buyers and owners. Content it provides to its users include professionally produced content, user generated content, an automobile library and automobile listing information.

The stock is trading on heavy volume with more than 2.6 million shares changing hands by 11:06 a.m. in New York, compared to the average of 430,116.

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