Phoenix New Media Stock Earnings Reports

Phoenix New Media reported solid quarter-over-quarter and year-over-year improvement in Q1 2026. Total revenue was RMB 188.8 million, up 21.6% YoY, driven by a strong 83% YoY increase in paid services (RMB 63.5 million) while net advertising revenue rose modestly by 4% to RMB 125.3 million. Gross margin improved materially to 53.5% (from 40.4% a year earlier). Operating expenses increased 29.5% to RMB 130.9 million—largely due to higher sales & marketing spend for digital reading initiatives—resulting in an operating loss of RMB 29.9 million (improved vs. RMB 38.4 million year-ago) and a net loss attributable to ifeng of RMB 16.8 million (improved vs. RMB 29.7 million). Liquidity remains strong with cash, term deposits, short-term investments and restricted cash totaling RMB 955.8 million (~USD 138.6 million). Management emphasized improvements in international real-time reporting, platform/product enhancements (new app sections and multilingual timelines), successful monetization at international exhibitions and sports events, and continued integration of technology to boost content efficiency. Near-term risks include continued macro and ad-budget pressure in some categories; the company plans to optimize client mix, accelerate internationalization and focus on sustainable commercialization. For Q2 2026, management guided revenues of RMB 195.7–210.7 million, net advertising RMB 141.8–151.8 million and paid services RMB 53.9–58.9 million.