The following is a summary of the Zhihu Inc. (ZH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Gross profit margin showed a year-over-year increase, with the sixth consecutive quarter of growth.

• Pay membership business revenue reached RMB449.7 million with 14.8 million subscribing members.

• Marketing services revenue was RMB330.5 million, a decline of 15.7% year-over-year. Brand advertising within this segment grew by 40%.

• Vocational training revenue grew robustly by 35.9% year-over-year to RMB145.4 million.

Business Progress:

• Zhihu focused on enhancing AI applications in content creation and management.

• Launched the AI search feature 'Discovery' showing a positive impact on user activity.

• Expanded vocational training offerings and integrated community feedback into the development of new courses.

• Launched the stand-alone Yin Yang Story app to separate story content from non-story content, improving user experience.

Opportunities:

• Further application of AI in improving operational efficiencies and enhancing user engagement.

• Expansion of vocational training business with a focus on AI, AGI, and software training programs.

Risks:

• Decline in marketing services revenue and the ongoing refinement and adjustment of community-related costs.

More details: Zhihu IR

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