Phoenix New Media (FENG) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Phoenix New Media reported a 7% increase in total revenues for Q3 2024, driven by a 10.5% rise in net advertising revenues despite a decline in paid services revenues. The company achieved an 18.9% increase in gross profit, reflecting improved operational efficiency and cost control. However, it still faced a net loss, which slightly narrowed compared to the previous year.
For further insights into FENG stock, check out TipRanks’ Stock Analysis page.
