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The latest announcement is out from Phoenix New Media ( (FENG) ).
Phoenix New Media Limited reported its unaudited financial results for the fourth quarter and fiscal year 2024, showing a 3.0% increase in total revenues for the quarter, driven by a substantial rise in paid services revenues. Despite the revenue growth, the company experienced a net loss of RMB3.6 million in Q4 2024, attributed to increased operating expenses and a decline in net advertising revenues. For the full year 2024, the company managed to reduce its net loss to RMB53.6 million, benefiting from strict cost control measures that improved gross profit and reduced operating expenses. These financial results indicate Phoenix New Media’s ongoing efforts to strengthen its media influence and adapt to market changes, though challenges remain in achieving profitability.
More about Phoenix New Media
Phoenix New Media Limited is a leading new media company in China, primarily focusing on providing news coverage and original content. The company offers digital reading, audio books, and paid videos as part of its paid services, and it has a significant presence in the Chinese media landscape.
YTD Price Performance: -11.29%
Average Trading Volume: 8,347
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $26.6M
See more insights into FENG stock on TipRanks’ Stock Analysis page.