On March 13, Ge Longhui | Phoenix TV (02008.HK) announced that for the whole of 2023, Phoenix New Media's total revenue in 2023 was RMB 692 billion (approximately US$97.5 million), a decrease of 11.9% from RMB 785.7 million in 2022. The decrease was mainly due to a year-on-year decline in net advertising revenue and paid service revenue.
The net loss attributable to Phoenix News Media in 2023 was RMB 102.5 million (approximately US$14.4 million), while the net loss attributable to Phoenix Media in 2022 was RMB 109.7 million. Net interest rate was negative 14.8% in 2023, compared to negative 14.0% in 2022. The net loss per basic and diluted common share in 2023 was RMB 0.18 (approximately US$0.02), while the net loss per basic and diluted common share in 2022 was RMB 0.19.
Total revenue for the first quarter of 2024 is estimated to be RMB130.8 million to RMB145.8 million. Net advertising revenue is expected to be RMB 121.3 million to RMB 131.3 million. Revenue from paid services is expected to be RMB 9.5 million to RMB 14.5 million.