Phoenix New Media Q2 Results: Costs Cut, Losses Narrowed

Phoenix New Media (FENG) has released an update.

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.

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