Q2 2026 Phoenix New Media Ltd Earnings Call Transcript
Key Points
- Total revenues increased 15.8% year-over-year to RMB216.7 million, driven by strong growth in paid services.
- Paid services revenues surged 106.5% year-over-year, primarily from digital reading services via mini-programs.
- Gross margin improved significantly to 57.3% from 49.2% in the prior year period.
- Net income attributable to Phoenix New Media Ltd (FENG) turned positive at RMB6.5 million, versus a net loss of RMB10.4 million a year ago.
- High-quality content IPs, such as the flagship interview program, have maintained long-term brand partnerships and expanded into new advertiser categories.
- Net advertising revenues declined to RMB146.9 million from RMB153.3 million in the same quarter last year.
- Total operating expenses increased 30.4% year-over-year, driven by higher sales and marketing costs for digital reading services.
- The advertising environment remains mixed, with timing of contract renewals in categories like Chinese liquor impacting quarterly results.
- The company still reported a loss from operations of RMB5.3 million, though improved from a loss of RMB7.2 million a year ago.
- The business outlook for Q3 2026 reflects uncertainty, with revenue forecasts subject to change due to substantial uncertainties.
Good day, and thank you for standing by. Welcome to Phoenix New Media second-quarter 2026 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to turn the conference over to your first speaker today, Muzi Guo, from Investor Relations. Please go ahead.
Thank you, operator. Welcome to Phoenix New Media's earnings conference call for the second quarter of 2026. Today's call will begin 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, please note the Safe Harbor statement included in our earnings press release, which applies to any forward-looking statements made during this call. Unless otherwise stated, all figures mentioned are in renminbi.
Joining me today are our CEO, Li Qi; and our CFO, Edward Lu.
I will now pass the call to Mr. Li for his opening remarks
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