The earnings call reflects a positive outlook with significant achievements in profitability and operational efficiency, driven by AI integration and enhanced user engagement. However, the company faces challenges in revenue growth, specifically in marketing services and vocational training.

Company Guidance

In the second quarter of 2025, Zhihu Inc. reported its third consecutive quarter of non-GAAP profitability, showcasing a significant turnaround from a loss of RMB 44.6 million in the same period last year to an adjusted net income of RMB 91.3 million. This improvement was complemented by a 3 percentage point increase in gross margin year-over-year. The platform saw stable Monthly Active Users (MAUs) from the previous quarter, with notable gains in daily time spent, core user retention, and high-tier creator engagement, both sequentially and year-over-year. Additionally, average daily user time spent exceeded 39 minutes, marking a 15% increase from the prior year. The company also noted a 10% sequential increase in daily high-quality content creation, with AI-related content experiencing over 45% year-over-year growth for two consecutive quarters. Furthermore, paid membership revenue reached RMB 402 million, despite a slight sequential decline, while marketing services revenue grew by 13.1% quarter-over-quarter to RMB 222.8 million. Overall, Zhihu's strategic focus on enhancing user engagement, optimizing content quality, and leveraging AI capabilities appears to be paving the way for sustainable growth and profitability.

Non-GAAP Profitability Achieved

Zhihu achieved non-GAAP profitability for the third consecutive quarter with an adjusted net income of RMB 91.3 million, compared to a loss of RMB 44.6 million in the same period last year. This highlights the strength of their disciplined operating strategy.

Improved Gross Margin

Gross margin expanded to 62.5% from 59.6% in the same period of 2024 due to improvements in monetization capabilities and operating efficiency.

AI Integration and Content Growth

AI-related content maintained a year-over-year growth of over 45% for two consecutive quarters. The platform is also a launch pad for new AI technologies and products.

Increased Engagement Metrics

Average daily user time spent increased by 15% year-over-year, and core user retention improved significantly both sequentially and year-over-year.

Expansion of AI Capabilities

The company launched a major update to Zhihu Zhida, integrating AI more deeply into user interactions and reducing AI hallucinations in professional domains.

Zhihu (ZH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

ZH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 26, 2025	2025 (Q3)	- / -	-0.017	―	―	―
Aug 27, 2025	2025 (Q2)	-0.02 / 0.12	-0.37	133.33% (+0.49)	―
May 27, 2025	2025 (Q1)	-0.03 / -0.02	-0.083	79.66% (+0.07)	―
Mar 26, 2025	2024 (Q4)	- / 0.14	-0.261	153.76% (+0.40)	―
Nov 26, 2024	2024 (Q3)	- / -0.02	-0.395	95.74% (+0.38)	―
Aug 22, 2024	2024 (Q2)	- / -0.37	-0.387	4.35% (+0.02)	―
Jun 12, 2024	2024 (Q1)	- / -0.08	-0.496	83.33% (+0.41)	―
Mar 26, 2024	2023 (Q4)	-0.24 / -0.26	-0.496	47.46% (+0.24)	―
Nov 29, 2023	2023 (Q3)	-0.40 / -0.40	-0.412	4.08% (+0.02)	―
Aug 23, 2023	2023 (Q2)	-0.33 / -0.39	-0.669	42.14% (+0.28)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ZH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 27, 2025	$4.63	$4.90	+5.83%
May 27, 2025	$3.93	$4.00	+1.78%
Mar 26, 2025	$4.61	$4.65	+0.87%
Nov 26, 2024	$3.68	$3.60	-2.17%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Zhihu (ZH) report earnings?

Zhihu (ZH) is schdueled to report earning on Nov 26, 2025, Before Open (Confirmed).

What is Zhihu (ZH) earnings time?

Zhihu (ZH) earnings time is at Nov 26, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is ZH EPS forecast?

Currently, no data Available

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