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Earnings Call Summary | Phoenix New Media(FENG.US) Q1 2024 Earnings Conference

moomoo AI ·  May 14 04:22  · Conference Call

The following is a summary of the Phoenix New Media Limited (FENG) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Phoenix New Media reported Q1 2024 total revenues of RMB153 million, an increase of 4.5% from last year.

  • Net advertising revenues were RMB138.6 million, a rise of 9.8% from last year.

  • Paid services revenue decreased to RMB14.4 million from RMB20.2 million last year.

  • Gross margin increased to 28.8% from 19.3% due to cost control measures.

  • Net loss shrunk to RMB26 million from a net loss of RMB57.8 million in the same period of the last year.

Business Progress:

  • Phoenix New Media showcased resilience amidst macro uncertainties.

  • The company expanded influence through successful content monetization and collaboration with local authorities in cultural and tourism sectors.

  • Increased followers on news platforms stemmed from captivating content.

  • Organizational restructuring improved market penetration and operational efficiency.

  • A strategic alignment of content with industry needs resulted in a year-on-year increase in net advertising revenue by 10%.

More details: Phoenix New Media IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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