Phoenix New Media Ltd. Sponsored ADR Class A Stock price
Is Phoenix New Media Ltd. Sponsored ADR Class A a Top Scorer Stock based on the Dividend, High-Growth-Investing or Leverman Strategy?
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Key metrics
📘 Market Capitalization
📈 What is it?
Market capitalization shows how much a company is currently worth on the stock market.
🧮 How is it calculated?
🏛️ Why is it important?
It helps classify companies by size (Large, Mid, Small Cap) and indicates their market presence and relative stability.
🧮 Calculation
🎯 What does this mean for investors?
- Large-cap companies tend to be more stable, often pay dividends, but may grow more slowly.
- Smaller firms may offer higher growth potential but come with more volatility.
- Market capitalization is a useful indicator of company size — but not a measure of whether a stock is undervalued or overvalued.
📘 Enterprise Value (EV)
📈 What is it?
Enterprise Value represents the total cost to acquire a company — including its debt and excluding its cash reserves.
🧮 How is it calculated?
(= Market Cap + Net Debt)
🏛️ Why is it important?
EV gives a more complete picture of a company's value than market cap alone and is used in key valuation ratios like EV/FCF or EV/Sales.
🧮 Calculation
🎯 What does this mean for investors?
- Enterprise Value shows the true cost of buying a company, including all financial obligations.
- It is more accurate than just looking at market cap, especially when comparing companies with different levels of debt or cash.
- Professional investors prefer EV-based multiples because they better reflect the company’s full financial footprint.
📘 Net Debt
📈 What is it?
Net Debt shows how much debt remains after subtracting a company’s available cash reserves.
🧮 How is it calculated?
🏛️ Why is it important?
It indicates how dependent a company is on borrowed money and how easily it can service its debt in the short term.
🧮 Calculation
🎯 What does this mean for investors?
- Low or negative net debt signals financial strength and flexibility.
- Companies with strong cash positions are better positioned in crises.
- High net debt increases financial risk — especially in environments with rising interest rates or economic downturns.
📘 Cash
📈 What is it?
Cash represents all liquid assets a company can access immediately — including cash, bank deposits, and short-term investments.
🧮 How is it calculated?
🏛️ Why is it important?
It reflects a company’s financial flexibility and resilience — enabling investments, buybacks, or buffer in downturns.
🧮 Calculation
🎯 What does this mean for investors?
- A strong cash position means greater room for maneuver and crisis resistance.
- Cash-rich companies can invest, pay down debt, or repurchase shares.
- But excess idle cash might indicate a lack of growth opportunities.
📘 Shares Outstanding
📈 What is it?
Shares outstanding represent the total number of a company’s shares currently held by investors — excluding treasury stock.
🧮 How is it calculated?
🏛️ Why is it important?
It’s the basis for key metrics like Earnings Per Share (EPS), Market Capitalization, or the Price/Earnings ratio (P/E).
🧮 Calculation
🎯 What does this mean for investors?
- Fewer shares in circulation typically increase earnings per share — making each share more valuable.
- Share buybacks reduce the number of shares and boost per-share metrics.
- Issuing new shares does the opposite — diluting shareholder value and lowering per-share figures.
📘 Price-to-Earnings Ratio (P/E)
📈 What is it?
The P/E ratio shows how many times a company's earnings per share are reflected in its current share price — in other words, how "expensive" the stock appears relative to its profits.
🧮 How is it calculated?
🏛️ Why is it important?
The P/E ratio is one of the most widely used valuation metrics. It helps investors assess whether a stock appears cheap or expensive compared to its earnings power.
🧮 Calculation
📊 P/E (TTM) = Based on earnings from the last 12 months (Trailing Twelve Months):🎯 What does this mean for investors?
- A low P/E may indicate undervaluation — or signal underlying issues.
- A high P/E may reflect strong growth expectations — or an overvalued stock.
📘 Price-to-Sales Ratio (P/S)
📈 What is it?
The P/S ratio shows how much investors are paying for $1 of the company’s revenue – regardless of profitability.
🧮 How is it calculated?
🏛️ Why is it important?
P/S is especially useful for evaluating growth companies or businesses not yet profitable. It reflects how the market values the company’s sales.
🧮 Calculation
Market Cap = $17.30m | Revenue (TTM) = $123.57m
🎯 What does this mean for investors?
- A low P/S may indicate undervaluation — or low profitability.
- A high P/S can reflect strong growth expectations — or excessive optimism.
- Especially helpful when evaluating companies where profits are low, volatile, or negative.
📘 Enterprise Value to Sales (EV/Sales)
📈 What is it?
EV/Sales shows how much investors are paying for $1 of revenue — considering not just equity, but also debt and cash. It’s the capital structure–adjusted version of the P/S ratio.
🧮 How is it calculated?
🏛️ Why is it important?
It’s ideal for comparing companies with different levels of debt. It reflects a company's true cost relative to its revenue.
🧮 Calculation
Enterprise Value = $-129.77m | Revenue (TTM) = $123.57m
🎯 What does this mean for investors?
- EV/Sales allows for capital structure–neutral company comparisons.
- A lower ratio may indicate undervaluation; a higher one may signal strong growth expectations or overvaluation.
- Especially helpful when evaluating high-growth companies with low or negative earnings.
📘 Enterprise Value to Free Cash Flow (EV/FCF)
📈 What is it?
EV/FCF shows how many years it would take for a company to "pay back" its enterprise value using its free cash flow.
🧮 How is it calculated?
🏛️ Why is it important?
It focuses on real cash generation, ignoring accounting noise — ideal for assessing profitability and value based on liquidity, not earnings.
🎯 What does this mean for investors?
- A low EV/FCF may signal undervaluation and strong cash generation.
- A high EV/FCF might reflect weak recent cash flow or aggressive growth expectations.
- Best suited for stable, mature businesses with predictable free cash flows.
📘 Price-to-Book Ratio (P/B)
📈 What is it?
The P/B ratio compares a company’s market value to its book value — showing how much investors are paying for each dollar of net assets.
🧮 How is it calculated?
🏛️ Why is it important?
P/B is commonly used for asset-heavy industries like banks or industrials. It helps assess whether a stock is trading above or below its net asset value.
🧮 Calculation
🎯 What does this mean for investors?
- A P/B below 1 may signal undervaluation — or weak profitability.
- A P/B above 1 implies the market expects future value creation (e.g., brand, IP, growth).
- Best used for companies with tangible assets and strong balance sheets.
📘 Dividend per Share (DPS)
📈 What is it?
Dividend per Share shows how much cash a company pays out to shareholders for each share they own – usually on an annual or quarterly basis.
🧮 How is it calculated?
🏛️ Why is it important?
DPS is the absolute value of the payout per share – crucial for income-focused investors and dividend strategies.
🎯 What does this mean for investors?
- A stable or growing DPS often signals a strong, shareholder-friendly business.
- DPS alone doesn’t tell you how attractive the payout is – the stock price also matters (→ see Dividend Yield).
- Long-term dividend growth is often a hallmark of high-quality companies – like the dividend aristocrats.
📘 Dividend Yield
📈 What is it?
Dividend yield shows how large a company’s dividend is in relation to its current share price.
🧮 How is it calculated?
🏛️ Why is it important?
It allows investors to compare dividend payouts across stocks, regardless of price or payout size.
🧮 Calculation
🎯 What does this mean for investors?
- A stable yield can reflect reliable distributions.
- Comparing 1Y and 5Y yield shows whether dividend growth keeps pace with stock price appreciation.
- A low yield isn’t always negative – it can signal strong past performance or growth focus.
📘 Dividend Growth
📈 What is it?
Dividend growth shows how much a company has increased its dividend per share over time.
🧮 How is it calculated?
5Y: Compound Annual Growth Rate (CAGR)
🏛️ Why is it important?
Consistently rising dividends are often a sign of financial strength and shareholder orientation – especially relevant for long-term investors.
🎯 What does this mean for investors?
- Stable dividend growth is a sign of sustainable earning power.
- High dividend growth can significantly boost your total return:
- If a company pays $1 in dividends and increases it by 15% annually over 5 years, you’ll receive $2 per share in year 5 – twice as much as at the start!
📘 Payout Ratio
📈 What is it?
The payout ratio shows what percentage of a company’s earnings (per share) is distributed to shareholders as dividends.
🧮 How is it calculated?
🏛️ Why is it important?
It helps assess whether the dividend is sustainable – especially in relation to the company’s profitability.
🧮 Calculation
🎯 What does this mean for investors?
- A low payout ratio means the company retains more earnings for reinvestment – typical for growth companies.
- A moderate payout (e.g. 25–50%) indicates a healthy balance between returns and reinvestment.
- High payout ratios may seem attractive but can carry risk if earnings decline.
📘 Consecutive Dividend Increases
📈 What is it?
This metric shows how many consecutive years a company has raised its dividend per share – without any cuts or pauses.
🧮 How is it calculated?
(Special dividends are not considered.)
🏛️ Why is it important?
A long track record of increases reflects financial strength, consistency, and shareholder commitment.
🎯 What does this mean for investors?
- A long dividend increase streak builds confidence – especially in volatile markets.
- Such companies are seen as reliable and income-friendly investments.
- The longer the streak, the stronger the company’s dividend discipline.
📘 Revenue
📈 What is it?
Revenue shows how much a company earns in total from selling its products and services – the gross income before any costs are deducted.
🧮 How is it calculated?
🏛️ Why is it important?
Revenue is one of the key figures to assess a company’s size, market position, and growth potential.
🧮 Calculation
🎯 What does this mean for investors?
- Growing revenue indicates rising demand and can be an early signal of future earnings growth.
- Comparing actual and expected revenue reveals trends in the market environment and analyst sentiment.
- Note: Strong revenue alone isn’t enough – margins and profitability matter just as much.
📘 EBITDA
📈 What is it?
EBITDA stands for “Earnings Before Interest, Taxes, Depreciation, and Amortization.” It reflects a company’s operating profit before the effects of financing, taxes, and accounting depreciation.
🧮 How is it calculated?
🏛️ Why is it important?
EBITDA is widely used to evaluate a company’s operating performance – especially across capital-intensive sectors or international comparisons.
🎯 What does this mean for investors?
- A high or growing EBITDA indicates strong operational profitability – independent of taxes, interest, or accounting methods.
- It’s especially useful for comparing companies across sectors or geographies.
- Important: EBITDA is not a net income figure – it excludes key costs like depreciation and interest.
📘 EBIT
📈 What is it?
EBIT stands for “Earnings Before Interest and Taxes.” It reflects a company’s operating profit after depreciation, but before interest and tax expenses.
🧮 How is it calculated?
🏛️ Why is it important?
EBIT is a core profitability metric that shows how well the company performs in its main business operations – independent of capital structure and tax environment.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBIT indicates strong profitability from the company’s core business – before financial and tax effects.
- It allows better comparison between companies with different debt levels or tax structures.
- Compared to EBITDA, EBIT already accounts for depreciation and reflects capital intensity more clearly.
📘 Net Income
📈 What is it?
Net income is the company’s total profit – the amount left after all expenses, taxes, interest, and depreciation have been deducted.
🧮 How is it calculated?
🏛️ Why is it important?
Net income is the most comprehensive measure of a company’s profitability – showing how much actual profit remains after all business and financing costs.
🧮 Calculation
🎯 What does this mean for investors?
- Growing net income indicates that the company is managing all of its costs efficiently.
- It directly influences valuation metrics like P/E ratio and the company’s dividend capacity.
- Over time, net income trends reveal how resilient and profitable the business model really is.
📘 Free Cash Flow (FCF)
📈 What is it?
Free Cash Flow shows how much actual cash remains after a company covers its operating expenses and capital expenditures.
🧮 How is it calculated?
🏛️ Why is it important?
FCF reflects a company’s real financial strength – regardless of accounting profits. It shows how much flexibility a company has for dividends, share buybacks, or debt reduction.
🎯 What does this mean for investors?
- High free cash flow means the company generates real, usable cash – independent of reported net income.
- It’s often the most reliable base for sustainable dividends and buybacks.
- Declining FCF can be an early warning sign – even when profits appear stable.
📘 Revenue Growth
📈 What is it?
Revenue growth shows how much a company’s sales have changed compared to the previous year – both on a trailing basis (TTM) and based on forward projections.
🧮 How is it calculated?
Forward = (Expected revenue ÷ Revenue in prior year − 1) × 100
Forward growth is based on analyst estimates for the current fiscal year.
🏛️ Why is it important?
Rising revenue signals growing demand, business expansion, and market share gains – especially important for growth-oriented companies.
🧮 Calculation
🎯 What does this mean for investors?
- Growth is the engine of long-term value creation – especially in tech and growth sectors.
- What matters is not just current growth, but its sustainability.
- Forward projections reflect whether analysts expect continued momentum – or a slowdown.
📘 EBITDA Growth
📈 What is it?
EBITDA growth shows how much a company’s operating profit (before interest, taxes, depreciation, and amortization) has increased or decreased compared to the previous year.
🧮 How is it calculated?
Forward = (Expected EBITDA ÷ EBITDA from prior year − 1) × 100
The forward estimate is based on analyst projections for the current fiscal year.
🏛️ Why is it important?
Growing EBITDA indicates improving operational profitability – regardless of financing or accounting effects.
🎯 What does this mean for investors?
- Strong EBITDA growth signals operational efficiency and scalability – especially during growth phases.
- EBITDA growth can be an early indicator of margin and earnings expansion – but should be assessed alongside revenue and EBIT.
📘 EBIT Growth
📈 What is it?
EBIT growth shows how much a company’s operating profit (after depreciation, but before interest and taxes) has increased compared to the previous year.
🧮 How is it calculated?
Forward = (Expected EBIT ÷ EBIT from prior year − 1) × 100
The forward estimate is based on analyst projections for the current fiscal year.
🏛️ Why is it important?
EBIT growth is a direct indicator of a company’s business performance – taking into account capital intensity through depreciation.
🧮 Calculation
🎯 What does this mean for investors?
- Rising EBIT signals improving operating profitability – even after accounting for depreciation.
- It’s especially important for evaluating companies with significant capital expenditures.
- Combined with revenue and EBITDA growth, EBIT growth provides a well-rounded view of operational progress.
📘 Net Income Growth
📈 What is it?
Net income growth shows how much a company’s bottom-line profit has increased or decreased compared to the previous year – both on a trailing basis (TTM) and based on analyst projections.
🧮 How is it calculated?
Forward = (Expected net income ÷ Net income from prior year − 1) × 100
The forward estimate reflects analysts’ expectations for the current fiscal year.
🏛️ Why is it important?
Net income is the ultimate measure of profitability. Growing net income signals stronger efficiency, cost control, and sustainable earnings power.
🧮 Calculation
🎯 What does this mean for investors?
- Stronger net income boosts valuation, dividend potential, and investor confidence.
- If profits stall while revenue grows, it may signal margin pressure.
📘 Free Cash Flow Growth
📈 What is it?
Free cash flow (FCF) growth shows how a company’s available cash – after covering operating expenses and capital expenditures – has changed compared to the previous year.
🧮 How is it calculated?
🏛️ Why is it important?
Free cash flow reflects real financial strength. Growing FCF indicates more flexibility for dividends, share buybacks, and reinvestment.
🎯 What does this mean for investors?
- Declining FCF may point to rising investments, increasing costs, or weaker operating performance.
- Especially for dividend investors, FCF growth is critical – since dividends are paid from actual available cash.
- A negative trend isn't always bad, but it deserves closer attention.
📘 Gross Margin
📈 What is it?
Gross margin shows how much of a company’s revenue remains after deducting the direct costs of goods sold (like materials and production). It represents the company’s “raw profit” before fixed costs, taxes, and interest.
🧮 How is it calculated?
Or simply: Gross Margin = Gross Profit ÷ Revenue × 100
🏛️ Why is it important?
Gross margin indicates how efficiently a company can produce or procure what it sells. It is a key measure of product-level profitability and pricing power.
🧮 Calculation
🎯 What does this mean for investors?
- A high gross margin suggests strong pricing power and efficient production.
- Falling margins may signal rising input costs or competitive pressure.
- Compared to peers, gross margin offers insights into the quality of a business model.
📘 EBITDA Margin
📈 What is it?
The EBITDA margin shows how much of a company’s revenue remains as operating profit before interest, taxes, depreciation, and amortization.It reflects operating efficiency without being distorted by financing or accounting factors.
🧮 How is it calculated?
🏛️ Why is it important?
The EBITDA margin reveals how much operating income a company generates per dollar of revenue – independent of capital structure and tax effects.
🎯 What does this mean for investors?
- A high EBITDA margin reflects strong core profitability – before accounting distortions.
- It allows for effective comparisons across companies and sectors.
- A stable or growing margin signals efficient cost control and business scalability.
📘 EBIT Margin
📈 What is it?
The EBIT margin shows what percentage of revenue remains as operating profit after depreciation but before interest and taxes.
🧮 How is it calculated?
🏛️ Why is it important?
The EBIT margin reflects a company’s core profitability while accounting for capital intensity (e.g. machinery, infrastructure). It’s especially useful for comparing businesses with different levels of depreciation.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBIT margin shows that the company remains efficient even after factoring in depreciation.
- It’s especially relevant for capital-intensive industries.
- Stable or rising EBIT margins over time are a strong indicator of pricing power and business quality.
📘 Net margin
📈 What is it?
Net margin shows how much of a company’s revenue remains as bottom-line profit after deducting all costs, interest, taxes, and depreciation.
🧮 How is it calculated?
🏛️ Why is it important?
Net margin reflects a company’s overall efficiency – across operations, financing, and taxation. It shows how much actual profit is generated from each dollar of revenue.
🧮 Calculation
🎯 What does this mean for investors?
- A high net margin means the company is not only strong operationally but also manages financing and taxes efficiently.
- Peer comparisons reveal business quality and competitiveness.
- Declining margins despite revenue growth can be a red flag for rising costs or inefficiencies.
📘 Free cash flow margin
📈 What is it?
The free cash flow (FCF) margin shows how much of a company’s revenue remains as actual free cash after covering all operating expenses and capital expenditures.
🧮 How is it calculated?
🏛️ Why is it important?
This margin reflects the true liquidity generated by the business – independent of accounting rules or depreciation. It’s especially relevant for dividends, buybacks, and reinvestment decisions.
🎯 What does this mean for investors?
- A high FCF margin means a company consistently generates strong cash flow.
- It’s a positive signal for financial stability and shareholder returns.
- The long-term trend is key – a declining margin may indicate rising investments or weakening operating efficiency.
📘 Equity Ratio
📈 What is it?
The equity ratio indicates what portion of a company’s total assets is financed by shareholders’ equity – in other words, how much it relies on its own capital.
🧮 How is it calculated?
🏛️ Why is it important?
A high equity ratio reflects financial strength and stability, especially during downturns. It’s a key indicator of a company’s solvency and long-term risk profile.
🧮 Calculation
🎯 What does this mean for investors?
- Companies with high equity ratios are generally more resilient and less dependent on external debt.
- Low equity ratios can signal higher risk or aggressive financial strategies.
- Important: Always assess the equity ratio in combination with the return on equity (ROE). This shows not just how stable the company is – but also how efficiently it uses shareholder capital.
📘 Return on Equity (ROE)
📈 What is it?
Return on equity (ROE) shows how efficiently a company uses its shareholders’ equity to generate profit. In other words: how much net income is earned per dollar of equity.
🧮 How is it calculated?
🏛️ Why is it important?
ROE is a core profitability metric. It helps investors understand whether a company delivers attractive returns on the capital provided by its shareholders.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROE indicates that the company is using its capital efficiently and profitably.
- It’s especially meaningful for capital-intensive businesses or firms with high equity bases.
- Important: A very high ROE can also result from high debt levels – always interpret it alongside the equity ratio to assess financial health.
📘 Return on Capital Employed (ROCE)
📈 What is it?
ROCE measures how efficiently a company generates profits from its total capital – including both equity and interest-bearing debt.
🧮 How is it calculated?
It evaluates the return on all capital employed, regardless of how it’s financed.
🏛️ Why is it important?
ROCE is ideal for comparing companies with different financing structures. It shows how well management uses capital to create value for both shareholders and creditors.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROCE means the company uses its capital efficiently – regardless of whether it's funded by debt or equity.
- The higher the ROCE compared to peers, the more value the company creates with its invested capital.
- Especially relevant for capital-intensive sectors like industrials, energy, or infrastructure.
📘 Return on Invested Capital (ROIC)
📈 What is it?
ROIC measures how efficiently a company generates returns from the capital invested in its core operations – regardless of whether the capital comes from equity or debt.
🧮 How is it calculated?
- NOPAT = Net Operating Profit After Taxes
- Invested Capital = Operating assets minus non-interest-bearing liabilities
🏛️ Why is it important?
ROIC is one of the most accurate indicators of capital efficiency. Unlike return on equity, it is not distorted by leverage and shows how much value is created for all capital providers.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROIC shows how effectively a company uses the capital that is truly invested in its core operations.
- Unlike ROCE, ROIC focuses only on the capital that is actively used to run the business – and that requires a return (i.e. interest-bearing).
- Especially useful when comparing companies with large amounts of excess cash or non-interest-bearing liabilities – giving a more realistic picture of capital efficiency.
📘 Leverage Ratio (Debt-to-Equity)
📈 What is it?
The leverage ratio indicates how much a company relies on interest-bearing debt (such as loans and bonds) relative to its shareholders’ equity.
🧮 How is it calculated?
🏛️ Why is it important?
This ratio helps assess a company’s financial structure and risk profile. High leverage can enhance returns – but also increases exposure to interest rate changes and financial stress.
🧮 Calculation
🎯 What does this mean for investors?
- A low leverage ratio signals financial strength and independence.
- A higher ratio can improve returns in good times but increases risk during downturns or rising interest rate periods.
- 👉 Always interpret in the context of industry, capital intensity, and interest rate environment.
📘 Earnings per share (EPS)
📈 What is it?
Earnings per Share (EPS) shows how much profit is attributable to a single share – and is one of the most important metrics for evaluating a company's performance.
🧮 How is it calculated?
The diluted share count reflects potential new shares that could be issued through options, convertible bonds, or other rights.
🏛️ Why is it important?
EPS is the basis for many key valuation metrics like P/E ratio, PEG ratio, or payout ratio. It enables comparisons of profitability across companies, regardless of their size.
🧮 Calculation
🎯 What does this mean for investors?
- EPS captures per-share profitability and is especially useful for comparisons over time or with analyst estimates.
- Rising EPS may signal consistent growth or share buybacks.
- Important: Always use diluted EPS for more realistic valuations – especially in companies with stock-based compensation.
📘 Free cash flow per share (FCF per share)
📈 What is it?
Free Cash Flow per Share shows how much free cash flow a company generates per outstanding share – after investments, but before dividends or debt repayments.
🧮 How is it calculated?
Free cash flow is calculated as operating cash flow minus capital expenditures (CapEx).
🏛️ Why is it important?
FCF per Share reveals how much real cash is available per share – useful for dividends, buybacks, or reducing debt. Unlike net income, free cash flow is harder to manipulate and often seen as a more reliable metric.
🧮 Calculation
🎯 What does this mean for investors?
- High FCF per share signals strong financial flexibility.
- It shows how much capital the company can effectively reinvest or return to shareholders.
- Particularly relevant for dividend payers and capital-efficient businesses.
📘 Short interest
📈 What is it?
Short interest indicates how many shares of a company are currently sold short – that is, borrowed and sold by investors who expect the price to decline.
🧮 How is it calculated?
It reflects the percentage of a company’s shares that are being shorted relative to the total shares available.
🏛️ Why is it important?
Short interest serves as a sentiment indicator: A high value may signal skepticism or bearish expectations – but also increases the potential for a short squeeze if prices rise unexpectedly.
🧮 Calculation
🎯 What does this mean for investors?
- Low short interest usually indicates market confidence in the company.
- High short interest can be a warning sign – or an opportunity if sentiment shifts.
- Especially relevant in volatile markets or ahead of key earnings releases.
📘 Employees
📈 What is it?
The employee count shows how many people a company employs worldwide – offering insights into its size, structure, and business model.
🧮 How is it calculated?
🏛️ Why is it important?
It helps assess operational scale, labor intensity, and cost structure. Combined with revenue and profit, it enables key metrics like revenue per employee or productivity.
🧮 Calculation
🎯 What does this mean for investors?
- A high headcount can signal operational complexity – but also significant growth capacity.
- Revenue per employee is a key indicator of efficiency.
- Especially useful for comparing tech, industrial, or service-heavy companies.
📘 Turnover per employee
📈 What is it?
Revenue per employee indicates how much revenue a company generates on average per employee – a key measure of efficiency and productivity.
🧮 How is it calculated?
The employee count is typically taken from the most recent annual report.
🏛️ Why is it important?
This metric helps compare business models – especially between labor-intensive and technology-driven companies. A high value suggests automation, operational efficiency, or strong value creation per head.
🧮 Calculation
🎯 What does this mean for investors?
- A high revenue per employee indicates a scalable and margin-strong business model.
- A low figure may reflect labor-intensive operations or lower value-add.
- Especially helpful when comparing tech companies to industrial or service sectors.
Phoenix New Media Ltd. Sponsored ADR Class A Stock Analysis
Analyst Opinions
7 Analysts have issued a Phoenix New Media Ltd. Sponsored ADR Class A forecast:
Analyst Opinions
7 Analysts have issued a Phoenix New Media Ltd. Sponsored ADR Class A forecast:
Phoenix New Media Ltd. Sponsored ADR Class A Events
Past Events
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AUG
11
Q2 2026 Earnings Call
about one month ago
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MAY
12
Q1 2026 Earnings Call
4 months ago
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MAR
10
Q4 2025 Earnings Call
6 months ago
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NOV
12
Q3 2025 Earnings Call
10 months ago
|
StocksGuide Free
Phoenix New Media Ltd. Sponsored ADR Class A — Q2 2026 Earnings Call
1. Management Discussion
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 RMB.
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. I will provide translation as needed.
[Foreign Language]
[Interpreted] Hello, everyone, and welcome. I am Li Qi, the new CEO of Phoenix New Media. It is my pleasure to join you for the first time in this role. I look forward to maintaining ongoing communication with our investors. Together with the management team, I will continue to focus on Phoenix' core strengths including our professional content capabilities, brand influence and commercial capabilities. We will continue to improve operational efficiency, strengthen our business foundation and enhance long-term value for our shareholders.
Next, I would like to invite our CFO, Edward, to walk you through our business performance and key developments during the quarter.
Okay. Thank you, Muzi. In Q2 2026, we saw continued strong demand from brand advertisers for high-quality content. As information becomes more fragmented and the user attention becomes harder to capture, high-quality content that effectively connects brands with audiences has become increasingly valuable. Leveraging our long-standing content expertise, we are deepening our strategy of driving business value through quality content.
This quarter, several major international events demonstrated our ability to produce high-quality content and respond quickly. During President Trump's visit to China, Phoenix provided full live coverage of the key activities and captured the critical moments in real time. Our video who were the Chinese company representatives at Trump's welcome dinner achieved over 40 million views on Douyin and WeChat channels, while also leading to additional business opportunities with major brand clients. This is a good example of how premium journalism can translate into commercial value.
Our systematic approach to major event coverage from preparation and the live reporting to follow-up analysis continue to differentiate us. During the Iran conflict, we delivered a fast, high-quality coverage through breaking live broadcast and special programs. For the 2026 World Cup hosted by Canada, Mexico and the United States, we built comprehensive content and marketing products around the tournament. Our original sports content IP generated more than 75 million impressions across the web, attracted over 10 leading brands and achieved significant commercial growth.
In addition, our reporting on the Shanxi Xingyuan mine accident demonstrated our investigative capabilities and journalistic expertise in major public events with multiple exclusive stories being republished by mainstream media. Our original content IPs continue to demonstrate long-term value. Programs such as Journey and Analyst Conversations have built strong audience engagement and the brand influence through authentic storytelling and in-depth conversations. We believe premium branded content creates value beyond product promotion by connecting brands with meaningful social issues and compelling stories.
Our flagship interview IP show, Wisdom Talk, has operated for 8 seasons and maintained 8 consecutive years of brand partnerships. The advertiser base of this premium IP has expanded from traditional liquor brands into industries, such as automobile and technology, demonstrating that strong content IPs are not only effective audience acquisition but also long-term commercial assets with repeat monetization potential. As our content capabilities continue to build, commercial value is being unlocked across key verticals. Following the shift toward more in-depth original vertical videos on WeChat Channels, our tech channel achieved quarterly revenue growth of over 100% year-over-year.
Our ifeng Car Research Lab established differentiated expertise with professional such as Xiaomi, EV's airbag testing and delivered strong revenue growth through event marketing around the Beijing Auto Show. Meanwhile, our large-scale event IPs also performed well. The Her Power Weibo topic approached 200 million reads and the Greater Bay Area Finance Forum achieved over 100 million impressions and was republished by industry organizations. AI is now integrated into our content workflow. We use AI to support content preparation, production and post production. This allows us to maintain high quality while improving efficiency and optimizing costs.
We are also enhancing content distribution, user reach and operational precision to maximize content value and commercial conversion. Looking ahead, our priorities remain clear: continue investing in trusted content, deepen the use of AI across our workflow, expand monetization opportunities in key verticals and strengthen the connection between our content capabilities and commercial value. We believe this effort will further reinforce FENG's position as a trusted media company. and support sustainable long-term growth.
This concludes our CEO, Mr. Li's prepared remarks.
I will now walk you through our financial performance for the second quarter of 2026. All figures mentioned will be in RMB. Our total revenues were RMB 216.7 million representing a 15.8% increase year-on-year from RMB 187.1 million. Specifically, net advertising revenue were RMB 146.9 million compared to RMB 153.3 million in the same period of last year. Paid services revenues were RMB 69.8 million, representing a 106.5% increase year-on-year from RMB 33.8 million primarily driven by revenue generated from our digital reading services offered through mini programs on third-party applications.
Cost of revenues decreased by 2.6% to RMB 92.6 million from RMB 95.1 million in the same period of last year. Gross margin for the second quarter improved to 57.3% from 49.2% in the same period of last year. Total operating expenses were RMB 129.4 million reflecting a 30.4% increase year-on-year from RMB 99.2 million. This increase was primarily due to higher sales and marketing expenses incurred for the digital reading services mentioned earlier. Loss from operations were RMB 5.3 million compared to RMB 7.2 million in the same period of last year. Net income attributable to ifeng was RMB 6.5 million compared to net loss attributable to ifeng of RMB 10.4 million in the same period of last year.
Moving on to our balance sheet. As of June 30, 2026, the company's cash and cash equivalents, term deposits, short-term investments and restricted cash totaled RMB 990 million or approximately USD 145.9 million. Finally, I'd like to provide our business outlook for the third quarter of 2026. We forecast total revenues to be between RMB 220.9 million and RMB 235.9 million. For net advertising revenues, we project between RMB 151.9 million and RMB 161.9 million. While for paid service revenues, we project between RMB 69 million and RMB 74 million. This forecast reflects our current and preliminary view, which is subject to change and the potential uncertainties.
This concludes the prepared portion of our call. We are now ready for questions. Operator, please go ahead.
[Operator Instructions] First question comes from [ Alexandra Liu ] from First Shanghai.
2. Question Answer
Congratulations on -- for this quarter's achievement. So my question is related with advertising. So the company achieved year-on-year revenue growth this quarter. So we are looking at the advertising business more broadly, the picture seems more nuanced. Can you walk us through the dynamics, what's creating pressure and what's giving you confidence and how you see the near to medium-term trajectory?
Thank you, Alexandra. The advertising environment was mixed this quarter in some categories such as Chinese liquor, the timing of certain contract renewal fell outside Q2, which had an impact on the quarter. But we don't see any fundamental change in the underlying demand. At the same time, we saw growth in several other areas. It's coming from deeper vertical content, event-based campaigns helping brands reach a larger audience and the branded content IP that support long-term client relationships. We are seeing these models work across a range of categories, including technology, automotive, finance and consumer brands. So we believe this is more of a structural shift rather than just a short-term thing. Going forward, we think that content-driven monetization will be an important area of growth.
Our focus is to expand the models that have worked well for us build relationships with clients who see ifeng as a content partner rather than just a media channel. We are also expanding into new advertiser segments where our lightweight fast-turn campaigns have proven effective. I hope I have answered your questions, Alexandra. Thank you again.
I see no further questions at this time. I will now turn the conference back to Muzi Guo.
Thank you. This concludes our Q&A session and conference call. If you have any further questions, please feel free to contact us. Thank you for joining us, and have a great day.
This concludes today's conference call. Thank you for participating. You may now disconnect.
[Portions of this transcript that are marked [Interpreted] were spoken by an interpreter present on the live call.]
Phoenix New Media Ltd. Sponsored ADR Class A — Q1 2026 Earnings Call
1. Management Discussion
Good day, and thank you for standing by. Welcome to Phoenix New Media First 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 first quarter of 2026. 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, please note the safe harbor statement in our earnings press release, which applies to any forward-looking statements made during this call. Unless otherwise stated, all figures mentioned are in RMB.
Joining me here 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. I will provide translation as needed. [Foreign Language]
[Foreign Language]
[Interpreted] And I will provide translation. Thank you all for joining today's call. In the first quarter, we stayed focused on strengthening our core capabilities, leveraging major domestic and international events to improve both our brand influence and user engagement.
Our ability to respond quickly to breaking news and deliver structured coverage of key events reflects solid execution and content competitiveness. We also continue to integrate technology into our content operations to improve efficiency. Finally, we achieved revenue growth and narrowed operating losses with overall performance improving year-over-year.
Next, I would like to invite Edward to present specific highlights and achievements of Q1.
In Q1, we continued to capitalize on major domestic and international events to reach more audiences, increase the impact of our content and strengthen our brand and long-term user engagement. In major event coverage, the biggest highlight this quarter was our strong execution.
During the U.S., Israel, Iran conflict, we responded quickly and coordinated well across teams and formats. We delivered real-time updates, live broadcast, in-depth commentary and feature stories at key moments with both speed and accuracy. Our time line product and multilingual reporting system played a key role, supported by fact-checking and on-the-ground reporting.
Our daily reports from Tehran added a strong sense of immediacy, and we were the first to conduct an in-depth exclusive interview with the Chinese seafarers stranded in the Strait of Hormuz. This showed our ability to deliver international news directly from the field.
Overall, what mattered most was not any single viral piece, but the entire process. It proved that our international news reporting system is now at industry-leading level of maturity and responsiveness.
During the 2 sessions, we combined structured interviews with delegates with targeted issue-based content planning. This helped us reach a wider audience. Several short videos on public policy topics made it on to trending lists, showing we can balance authoritative mainstream reporting with content that appeals to the general audience.
In vertical content, sports coverage performed very well during major events. Around the Milan Winter Olympics and other key tournaments, we used the full platform coordination to significantly increase exposure and engagement. Total Winter Olympics exposure exceeded 250 million. Our Abu Dhabi Masters coverage achieved full integration across fixed TV, PC, mobile app and third-party video platforms. It attracted over 1.2 million live viewers with 3 topics entering 6 trending lists, generating more than 15 million total reads.
We also saw once again that high-quality human-centered content can still stand out in today's crowded information environment. Our Journey series is a good example. One recent episode alone reached over 80 million views and triggered follow-up reports from major national media outlets. This kind of impact is hard to replicate and remains one of our core strengths.
On the commercialization front, we made solid progress through our in-depth participation and coverage at major international exhibitions. In Q1, through our active media coverage of CES, MWC and AWE, both our client numbers and revenue in tech sector grew substantially. This success validated our business model of international exhibitions plus premium content plus monetization in the tech sector and give us valuable experience that can be applied to other vertical fields.
On the product side, our mobile app saw a clear increase in user engagement, driven by major news events. To meet users' need for both speed and better understanding, we improved our content structure and distribution. We added new sections such as On the Scene and World Affairs, which made it easier for users to find content and helped improve retention.
Overall, our direction remains unchanged. We are building a more stable and scalable content system, one that can deliver reliable output during major news cycles, create strong original content and adapt to new technologies. At the same time, we are steadily accelerating commercialization.
Looking ahead, we will keep focusing on content quality, strengthen our IP portfolio, improve operational efficiency, and pursue steady and sustainable growth.
This concludes our CEO, Mr. Sun's prepared remarks. I will now walk you through our financial performance for the first quarter of 2026.
All figures mentioned will be in RMB. Our total revenues were RMB 188.8 million, representing a 21.6% increase year-on-year from RMB 155.2 million. Specifically, net advertising revenues were RMB 125.3 million, representing a 4% increase year-on-year from RMB 120.5 million. Paid services revenues were RMB 63.5 million, representing an 83% increase year-on-year from RMB 34.7 million, primarily driven by revenue generated from our digital reading services offered through mini programs on third-party applications.
Cost of revenues decreased by 5.1% to RMB 87.8 million from RMB 92.5 million in the same period of last year. Gross margin for the first quarter improved to 53.5% from 40.4% in the same period of last year. Total operating expenses were RMB 130.9 million, reflecting a 29.5% increase year-on-year from RMB 101.1 million. This increase was primarily due to higher sales and marketing expenses incurred for the digital reading services mentioned earlier.
Loss from operations was RMB 29.9 million compared to RMB 38.4 million in the same period of last year. Net loss attributable to ifeng was RMB 16.8 million compared to RMB 29.7 million in the same period of last year.
Moving on to our balance sheet. As of March 31, 2026, the company's cash and cash equivalents, term deposits, short-term investments and restricted cash totaling RMB 955.8 million or approximately USD 138.6 million.
Finally, I'd like to provide our business outlook for the second quarter of 2026. We forecast total revenues to be between RMB 195.7 million and RMB 210.7 million. For net advertising revenues, we project between RMB 141.8 million and RMB 151.8 million, while for paid service revenues, we project between RMB 53.9 million and RMB 58.9 million. This forecast reflects our current and preliminary view, which is subject to change and substantial uncertainties.
This concludes the prepared portion of our call. We are now ready for questions. Operator, please go ahead.
[Operator Instructions] First question comes from Alice Tang of First Shanghai.
2. Question Answer
We saw that the company achieved year-on-year revenue growth in Q1. So could you please share the highlights and challenges in advertising revenue and your views on the near to medium-term outlook, please?
Alice, actually, in Q1, we did see some budget adjustment pressure in certain categories, but we are happy to see that several high potential consumption and service sectors delivered solid growth, which helped offset the pressure.
Areas like liquor, Internet services, automotive, home appliances, finance and retail all grew year-on-year. We are especially encouraged by the strong momentum in emerging AI application sectors.
Also, our deeper involvement in international sports events and exhibitions also performed well and really showcases our progress in international marketing. We are seeing a clear shift in brand marketing. It's moving away from just chasing traffic toward building deeper emotional connections with users and creating lasting brand value. This plays directly to our strength in content marketing.
In the near to medium-term, we think macro headwinds and budget pressure may continue for a while. We will keep optimizing our client mix and focus on areas with stronger resilience and better growth prospects. We will also push on internationalization to sharpen our competitive edge. Overall, I think we will make steady progress through 2026. Thank you, Alice.
I see no further questions at this time. I will now turn back to Muzi for closing remarks.
Thank you. This concludes our Q&A session and conference call. If you have any further questions, please feel free to contact us. Thank you for joining us today, and have a great day.
This concludes today's conference call. Thank you for participating. You may now disconnect.
[Portions of this transcript that are marked [Interpreted] were spoken by an interpreter present on the live call.]
Phoenix New Media Ltd. Sponsored ADR Class A — Q4 2025 Earnings Call
1. Management Discussion
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. I will provide translation as needed.
[Interpreted] Thank you all for joining today's call. Over the past quarter, we have continued to increase our inputs in in-depth reporting, professional commentary and the planning of major thematic coverage with the aim of enhancing the quality and influence of our core columns and flagship products. At the same time, we have optimized and upgraded key events and branded initiatives, promoting greater integration between our content and product formats. In an environment characterized by information overload and increasingly similar traffic-driven content, the value of professional in-depth and credible journalism becomes even more important. We will stay focused on our core strength and strategy while managing risk prudently and advancing our transformation in a disciplined and steady manner to build a more sustainable foundation for the future growth.
Now I will hand over to Edward for a more detailed update on our business progress and financial results.
Okay. Thank you, Muzi. In the fourth quarter, influenced by macroeconomic environment, so overall market competition remained intense. Against this backdrop, we are focused on strengthening our core capabilities, reinforcing our positioning as a mainstream media online, refining our original content system and advancing our technology and collaboration initiatives.
In terms of content reporting, we maintained high frequency, professional coverage, further reinforcing our influence on major political and current affairs topics. With outstanding performance in coverage of events such as the Maduro incident and the development of U.S.-Iran conflict. In addition, as a historic moment of China's Fujian aircraft carrier interim service, we delivered an expert live broadcast that attracted over 1.8 million views and produced in-depth analytical content on the technological development, strengthening our voice in professional commentary.
We have always focused on social issues, fulfilling the public value of media through continuous observation and reporting. For example, 1 of our reports focused on Regency International in Hangzhou, known as the first building for mass influencer leasing and a typical example of the rapid growth of live streaming e-commerce. By systematically analyzing the structural changes behind it, we published an in-depth report, which garnered over 10,000 reads and prompted an official government response, contributing to broader public discussion.
In original content, deeply reported human-centered stories remained the strongest foundation for our brand and audience engagement. For example, 1 episode of our program journey told the story of a father who after his son's suicide joined an online chat group to reach out to other struggling young people and help them found hope again, garnering 120 million views. Another episode featured ongoing coverage of public figures [ tightly battled ] with ALS, capturing the resilience of human spirit with a single episode reaching 145 million views. These and other programs form a key part of our broader content portfolio, which is structured as a complementary matrix, different formats and themes support 1 another, elevating brand value and providing a more stable foundation for monetization.
Beyond content production, we also strengthened our presence in high-end events through cooperation with platforms such as The World Chinese Entrepreneurs Convention. We integrated key resources to enable synergy between content and offline events. Our Action League Charity Gala marked its tenth anniversary, receiving coverage from major offline, including CCTV and other TV stations, and bringing together leaders from multiple net national level foundations, further reinforcing our organizational capability and social influence in the public welfare space.
In content distribution, our presence across major platforms continue to expand, undergoing average live per cost -- per post increased by 54% quarter-over-quarter, with total followers growing to 18.9 million. Our WeChat video account also saw strong follower growth, bringing the total to over 6 million. On our app, AI applications now support content aggregation and trending topic operations, improving distribution, efficiency and user engagement. Interaction volume increased by over 10% and average time spent per user rose 8% quarter-over-quarter. Meanwhile, our cooperation within Huawei's HarmonyOS ecosystem provides us with a more stable traffic entry point and deeper technological collaboration.
Looking ahead to 2026, we will continue to prioritize capability, building and structural optimization. We remain focused on developing original content as our core assets, leveraging technology as an efficiency driver and steadily advancing our business upgrade.
This concludes our CEO, Mr. Sun's prepared remarks. I will now walk you through our financial performance for the first quarter of 2025. All figures mentioned will be in RMB.
Our total revenues were RMB 222.3 million, representing a 1.9% increase year-on-year from RMB 218.1 million. Specifically, net advertising revenues were RMB 181.1 million compared to RMB 189 million in the same period of last year. Paid services revenue were RMB 41.2 million representing a 41.6% increase year-on-year from RMB 29.1 million, primarily driven by revenue generated from our digital reading services offering through mini-programs on third-party applications.
Cost of revenues decreased by 18.6% to 98.6% (sic) [ RMB 98.6 million ] from RMB 121.1 million in the same period of last year. Gross margin for the fourth quarter improved to 55.6% from 44.5% in the same period of last year.
Total operating expenses were RMB 99.2 million, reflecting a 9.9% increase year-on-year from RMB 90.3 million. This increase was primarily due to higher sales and marketing expenses incurred for the digital reading services mentioned earlier.
Income from operations increased by 265.7% to RMB 24.5 million from RMB 6.7 million in the same period of last year. Net income attributable to ifeng was RMB 45.3 million compared to net loss attributable to ifeng of RMB 3.6 million in the same period of last year.
Moving on to our balance sheet. As of December 31, 2025, the company's cash and cash equivalents, term deposits, short-term investments and restricted cash totaled RMB 1.02 billion or approximately USD 145.6 million.
Finally, I'd like to provide our business outlook for the first quarter of 2026. We forecast total revenue to be between RMB 160 million and RMB 175 million. For net advertising revenues, we project between RMB 111.2 million and RMB 121.2 million. While for paid service revenues, we project between RMB 48.8 million and RMB 53.8 million. This forecast reflects our current and preliminary view, which is subject to change in the substantial uncertainties.
This concludes the prepared portion of our call. We are now ready for questions. Operator, please go ahead.
[Operator Instructions] We will now take the first question from Alice Tang of First Shanghai.
2. Question Answer
So what are the key challenges the company is currently facing? And how do you view the outlook for the advertising market in 2026?
Alice, thank you for the question. Actually, in Q4, advertising budgets declined among major Internet platforms while the automotive and the liquor sectors were relatively weak. At the same time, we achieved growth in consumer categories, such as personal care, tourism and entertainment and home appliances, partially offsetting declines in traditional sectors and reflecting opportunities arising from industry shifts.
In the near term, market challenges persist, and we will focus on optimizing our client mix while exploring new growth drivers. Internationalization has become a key differentiator for us. In the fourth quarter, the light of Chinese events launched alongside The World Chinese Entrepreneurs Convention strengthened our connections with overseas business communities, and enhanced both brand influence and collaboration potential.
On the innovation front, demand for short-term video continues to grow, and we will enhance content differentiation and conversion capabilities through our social media metrics. At the same time, AI technologies are being increasingly applied to content production and the data analytics to improve marketing efficiency, and this will remain a key focus going forward.
As consumption continues to upgrade, we will prioritize sectors with stronger budget potential, including home appliances, transportation and daily consumer goods, while aligning with things such as technological innovation and green consumption, supported by our credibility and authoritative platform, we remain an important partner for brands seeking differentiated communication.
Thank you. There are no further questions, and this concludes the Q&A session. I'll now turn the conference back to Muzi Guo for her closing comments.
Thank you. We have now come to the end of our conference call and Q&A session. If you have any further questions, please feel free to contact us. Thank you for joining us today, and have a great day.
Thank you for your participation in today's conference. This does conclude the program. You may now disconnect your lines.
[Portions of this transcript that are marked [Interpreted] were spoken by an interpreter present on the live call.]
Phoenix New Media Ltd. Sponsored ADR Class A — Q3 2025 Earnings Call
1. Management Discussion
Good day, and thank you for standing by. Welcome to Phoenix New Media Third 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 speaker today, Muzi Guo from Investor Relations. Please go ahead.
Thank you, operator. Welcome to Phoenix New Media's Earnings Conference Call for the third quarter of 2025. 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 in our earnings press release, which 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. I will provide translation as needed.
[Foreign Language]
[Interpreted] Thank you for joining today's call. This quarter, we stayed focused on both quality content and brand impact. Our reports around major social and cultural moments continue to perform well across platforms, while flagship events also achieved strong market response. From trending coverage to large-scale campaigns, we helped clients amplify their presence and connect with audiences in meaningful ways. These efforts reflect our ability to combine storytelling, marketing and innovation, keeping our brand relevant and resilient in a cautious ad market.
Now I'll hand over to Edward for a more detailed update on our business progress and financial results.
Okay. Thank you, Muzi. In the third quarter, through high-quality original content, innovative product experiences and influential offline events, we further strengthened our influence and reputation in the media industry while achieving solid progress in both commercialization and user engagement. Our newsroom once again demonstrated its agility and depth in covering major news and breaking events. During the highly anticipated September 3 military parade, our 5-hour live broadcast on Phoenix military channel drew over 32 million total views across platforms, underscoring the strong audience trust in our in-depth coverage.
During Typhoon Huajiasha, our live stream delivered continuous 3D reporting where our Tang Bohu column reported the natural disaster with sharp investigative storytelling that inspired public reflection and trended widely on Weibo, achieving both depth and broad reach. On the international front, the Phoenix Insights column provided balanced analysis of the U.S.-Russia Summit through exclusive interviews with leading experts from the U.S., Russia and Ukraine. The series was reported by influential publications such as Beijing Culture Review, earning strong recognition among professional and academic readers.
Our media influence and the capabilities to integrate resources also supported significant growth in the public and the regional sectors. In early September, as the exclusive media partner and co-organizer, we successfully hosted the Shanxi Culture and Tourism Development Promotion Event centered on integration, collaboration and consumption. The 2-day event generated more than 2 billion online impressions in 29 trending mentions across major platforms, rejuvenating Shanxi's culture tourism brand with a modern image.
Also in September, we hosted the Phoenix Bay Area Finance Forum 2025 in Guangzhou. The forum achieved over 720 million total impressions and appeared on 3 trending lists. It trended simultaneously on Weibo, Kuaishou and Douyin, highlighting its strong brand influence. The [ Phoenix Star Awards ] also triggered enthusiastic organic promotion from awardees and broad coverage from mainstream business and finance media outlets, creating a second wave of dissemination.
Our key IP programs continued to deliver both impact and reputation throughout Q3. Our mini documentary journey continued to resonate emotionally through human-centered storytelling. Its feature on the sausage vendor angle experimented with a new program plus live stream commerce model, trending on Weibo with over 30 million total views. [ RizTalk ] maintained its premium standards with every original piece entering trending charts. The feature interview with cancer survivor and the vlogger, [indiscernible] was especially noted for its worth and humanity, earning widespread praise as one of the most moving stories of the quarter.
Meanwhile, [ Key Talk Alliance ] expanded its international footprint through participation in global events such as EFA Berlin, empowering brands across markets and effectively transforming content influence into commercial value. While our flagship event generated large-scale offline buzz, our daily operations continued converting that momentum into sustained user engagement. The number of our followers grew steadily across multiple platforms. For instance, our Phoenix video accounts gained nearly 0.5 million new followers this quarter alone, showing strong traction on video platforms.
Our presence on RedNote also continued to build consistently expanding our reach among younger audiences. From a product standpoint, we further optimized the APP experience around reading, interaction and seamlessly integration with the HarmonyOS ecosystem. Our strategic cooperation with HarmonyOS began to bear fruit. Phoenix news app was showcased as one of few premium apps at Huawei's new product launch. Together with Huwei's Xiaoyi team, we co-developed an AI news feature and launched the Phoenix TV highlights app. Our quick news product will go live soon, completing our HarmonyOS product suite.
In summary, in the third quarter, we strengthened our core advantages in authoritative reporting and brand events while achieving measurable progress in user engagement, commercial innovation and ecosystem expansion. Looking ahead, we will continue to prioritize content innovation and IT creation, enhance brand influence, diversify monetization channels and improve operational efficiency to drive sustainable long-term growth.
This concludes our CEO, Mr. Sun's prepared remarks. I will now walk you through our financial performance for the third quarter of 2025. All figures mentioned will be in RMB. Our total revenues were RMB 200.9 million, representing a 22.3% increase year-on-year from RMB 164.3 million. Specifically, net advertising revenues were RMB 159.3 million, representing a 7.3% increase year-on-year from RMB 148.4 million. Paid services revenues were RMB 41.6 million, representing a 161.6% increase year-on-year from RMB 15.9 million, primarily driven by revenue generated from our digital reading services offered through mini programs on third-party applications.
Cost of revenues increased by 3.1% to RMB 105.2 million from RMB 102 million in the same period of last year. Total operating expenses were RMB 109 million, reflecting a 23.6% increase year-on-year from RMB 88.2 million. This increase was primarily due to higher sales and marketing expenses incurred from the digital reading services mentioned earlier.
Loss from operations was RMB 13.3 million compared to RMB 25.9 million in the same period of last year. Net loss attributable to iFeng was RMB 4.9 million compared to RMB 18.5 million in the same period of last year.
Moving on to our balance sheet. As of September 30, 2025, the company's cash and cash equivalents, term deposits, short-term investments and restricted cash totaled RMB 1 billion or approximately USD 140.5 million.
Finally, I'd like to provide our business outlook for the fourth quarter of 2025. We forecast total revenues to be between RMB 205.9 million and RMB 220.9 million. For net advertising revenues, we project between RMB 171.4 million and RMB 181.4 million, while for paid service revenues, we project between RMB 34.5 million and RMB 39.5 million. This forecast reflects our current and preliminary view, which is subject to change and substantial uncertainties.
This concludes the prepared portion of our call. We are now ready for questions. Operator, please go ahead.
[Operator Instructions] We will now take our first question from the line of Alice Tang from First Shanghai.
2. Question Answer
The company's advertising business managed to grow in the third quarter despite market pressure. Could you please share how this was achieved? And what's your outlook for the ad market in Q4?
Thank you, Alice. It's a good question. Actually, achieving growth in advertising revenue under current conditions was not easy. Many clients are still very cautious with their budgets and their marketing is changing faster than before. This brought more challenges for us.
Actually, we focus on 2 main areas. First, each client industry sales unit now works more closely with related content teams, sharing insights and taking joint responsibilities for business results. This helped us respond to clients faster and more precisely. Second, we followed the marketing trends and used our media influence to connect with more key clients. For example, in Q3, we organized the Shanxi Culture and Tourism promotion event, which involved the provincial government and multiple partners, strengthening our ability to serve public sector clients.
Another highlight is our [ Star Anchor ] program. It started last year and has tripled its revenue this year. The program helps brand fans and train new generation hosts, meeting the rising demand for strong content creator. These efforts show how we are securing our position in the market. In the fourth quarter, competition will remain intense and cost control will stay critical, but we will keep focusing on innovation, improving our service capabilities and doing our best to maintain steady performance.
Thank you, there are no further questions at this time. I'll now turn the conference back to Muzi Guo for her closing comments.
Thank you. We have now come to the end of our earnings conference call for the third quarter of 2025. If you have any additional questions, please don't hesitate to reach out to us. Thank you for joining us today, and have a nice day.
Thank you for your participation in today's conference. This does conclude the program. You may now disconnect your lines.
Phoenix New Media Ltd. Sponsored ADR Class A — Q3 2025 Earnings Call
Financial data from Phoenix New Media Ltd. Sponsored ADR Class A
Revenue
Revenue is the sum of all sales generated by a company, e.g. for its products or services.
Revenue (TTM) metric explainedDirect Costs
Direct costs are the costs incurred directly in connection with the manufacture of the product or service.
Gross Profit
Gross Profit indicates how much of the revenue remains in the company after deducting direct production costs. If the percentage share of sales is calculated, this is referred to as the gross margin.
Gross Profit metric explainedSelling and Administrative Expenses
Selling, general and administrative expenses (SG&A) include all expenses for marketing and sales as well as the general administration of the company.
Research and Development Expense
Research and development costs (R&D) provide information on how much the company invests in the research and development of its products. The costs are particularly interesting as a percentage of revenue and in comparison to direct competitors.
EBITDA
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is the company's earnings before interest, taxes, depreciation and amortization. The EBITDA margin is calculated as a percentage of sales.
Depreciation and Amortization
Depreciation represents reductions in the value of the company's assets (e.g. due to wear and tear on machinery).
EBIT (Operating Income)
EBIT (Earnings Before Interest and Taxes) is the company's profit before interest and taxes, also known as the operating income. The EBIT Margin is calculated as a percentage of sales at
.
Net Profit
Net Profit represents the profit or loss after deduction of all costs.
Net Profit metric explainedStocksGuide Premium
| Jun '26 |
+/-
%
|
||
| Revenue | 124 124 |
14%
14%
100%
|
|
| - Direct Costs | 57 57 |
6%
6%
46%
|
|
| Gross Profit | 66 66 |
42%
42%
54%
|
|
| - Selling and Administrative Expenses | 61 61 |
32%
32%
49%
|
|
| - Research and Development Expense | 9.06 9.06 |
12%
12%
7%
|
|
| EBITDA | - - |
-
-
|
|
| - Depreciation and Amortization | - - |
-
-
|
|
| EBIT (Operating Income) EBIT | -3.57 -3.57 |
63%
63%
-3%
|
|
| Net Profit | 4.50 4.50 |
149%
149%
4%
|
|
In millions USD.
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Company Profile
Phoenix New Media Ltd. is engaged in the provision of media and advertising services through internet, mobile, and television channels. It also provides mobile internet and value-add, and video value-added services. The company was founded on November 22, 2007 and is headquartered in Beijing, China.
StocksGuide Premium
| Head office | Cayman Islands |
| CEO | Mr. Sun |
| Employees | 611 |
| Founded | 1998 |
| Website | www.ifeng.com |
