Q4 2025 Phoenix New Media Ltd Earnings Call Transcript
Key Points
- Phoenix New Media Ltd (FENG) reported a 1.9% year-on-year increase in total revenues for the fourth quarter of 2025, reaching RMB222.3 million.
- The company achieved a significant 41.6% increase in paid services revenue, driven by digital reading services offered through mini-programs on third-party applications.
- Gross margin improved to 55.6% from 44.5% in the same period of the previous year, indicating better cost management.
- Income from operations saw a substantial increase of 265.7%, reaching RMB24.5 million compared to RMB6.7 million in the same period last year.
- Net income attributable to Phoenix New Media Ltd (FENG) was RMB45.3 million, a significant turnaround from a net loss of RMB3.6 million in the same period last year.
- Net advertising revenues decreased to RMB181.1 million from RMB189 million in the same period last year, reflecting challenges in the advertising market.
- Total operating expenses increased by 9.9% year-on-year to RMB99.2 million, primarily due to higher sales and marketing expenses.
- The macroeconomic environment and intense market competition posed challenges, impacting advertising budgets among major Internet platforms.
- The automotive and liquor sectors showed relative weakness, affecting overall advertising revenue.
- The company forecasts a potential decline in total revenue for the first quarter of 2026, projecting between RMB160 million and RMB175 million.
Good day, and thank you for standing by. Welcome to Phoenix New Media fourth quarter 2025 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded.
I'd now like to turn the conference over to your first speaker today, Muzi Guo from Investor Relations. Please go ahead.
Thank you. Welcome to Phoenix New Media's earnings conference call for the fourth quarter of 2025. Today's call will start with an overview of our quarterly results, followed by a Q&A session. Our quarterly financial results and the webcast of this conference call are available on our website at ir.ifeng.com.
Before we continue, I would also like to point to the Safe Harbor statement in our earnings press release, which also applies to any forward-looking statements made during this call. Unless otherwise stated, all figures mentioned are in RMB. Joining me today are our CEO, Mr. Yusheng Sun; and our CFO, Mr. Edward Lu.
I will now pass the call to Mr. Sun for his opening remarks.
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