Phoenix New Media (FENG) has released an update.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
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.