Total revenues increased by 4.5% year-on-year to RMB 153 million. Net advertising revenues grew by 9.8% to RMB 138.6 million. Gross margin improved to 28.8%, reflecting effective cost control measures.
The company has made significant strides in content monetization and media influence, particularly through extensive coverage of major news events. Phoenix New Media also saw a decrease in operating losses and net losses while maintaining a strong cash position.
Paid services revenue decreased due to a decline in licensing and e-commerce revenues. Operating loss and net loss attributable to Phoenix New Media were significantly reduced.
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