Phoenix New Media (FENG) has released an update.
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Phoenix New Media Limited reported a decrease in total revenues by 6.6% in Q2 2024, with a notable decrease in net advertising and paid services revenues. Despite the revenue decline, the company achieved a 17% increase in gross profit and a significant reduction in net loss compared to the same period in 2023, attributed to stringent cost control measures and operational improvements.
For further insights into FENG stock, check out TipRanks’ Stock Analysis page.