The following is a summary of the Phoenix New Media Limited (FENG) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Phoenix New Media reported revenue of RMB 164.3 million, representing a 7% increase year-over-year.

• The net advertising revenue experienced a 10.5% increase, amounting to RMB 148.4 million.

• Paid services revenue decreased to RMB 15.9 million from RMB 19.3 million last year.

• Gross margin improved to 37.9% this quarter from 34.1% in the same period last year.

• The company reported a reduced net loss of RMB 18.5 million, improving from a net loss of RMB 21.5 million in the previous year.

Business Progress:

• Focused on producing high-quality original content, which elevated their media presence and translated into commercial success.

• Successfully covered the Paris Olympics, generating significant media exposure and commercial collaborations.

• Hosted Feng's Bay Area Finance Forum, which led to viral content and strengthened their brand in the finance sector.

• Continued to enhance commercialization efficiency by optimizing alignment with client needs, notably in culture, tourism, and culinary content.

Opportunities:

• Leveraged major events like the Paris Olympics for extensive media coverage and substantial commercial success, demonstrating strong content dissemination and marketing capabilities internationally.

• The company's focus on high-quality, engaging and human-centered content aligns with public values, forming a solid foundation for future growth and competitiveness.

• Positioned content focusing on culture, tourism, and culinary themes as key vehicles for marketing, creating opportunities for local culture and tourism.

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