Phoenix New Media Limited achieved a notable reduction in net losses to RMB 5.5 million, demonstrating effective operational efficiency amidst a challenging advertising environment.
CEO Yusheng Sun attributed the company’s success in maintaining advertising revenue stability to their high-quality content, which has further enhanced their commercialization efforts.
Despite a decline in total revenues to RMB 168.3 million, Phoenix New Media improved its gross margin significantly from 31% to 38.9% due to better cost management.
The company is optimistic about Q3 2024, projecting revenues between RMB 151.6 million and RMB 166.6 million, focusing on content quality and operational improvements.
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