Zhihu-W (02390) announced its performance for the third quarter of 2024, with total revenue of 0.845 billion yuan, gross margin...
According to Zhitong Finance APP, Zhihu-W (02390) announced its performance for the third quarter of 2024, with total revenue of 0.845 billion yuan, gross margin increased from 53.7% in the same period of 2023 to 63.9%. The net loss was 9 million yuan, narrowed by 96.8% compared to the same period in 2023. Adjusted net loss was 13.1 million yuan, narrowed by 94.2% compared to the same period in 2023. The average monthly active users (MAUs) were 81.1 million, with an average of 16.5 million monthly subscription members.
Mr. Zhou Yuan, Chairman and CEO of Zhihu, stated: "In the third quarter, we further fulfilled our commitment to reduce losses and accurately executed our strategy. Our community ecosystem optimization achieved several positive results, including steady improvement of core user health indicators and month-on-month growth in active users. We also revived the confidence of content creators, thereby enhancing content quality and user activity, and strengthening the community atmosphere. In addition, our ai search tool, Zhihu Zhidao, saw rapid growth in user visits. Based on this, we launched the 'professional search' feature, which has become a differentiated exploration as we further advance into deep scenarios. Looking ahead, we will continue to focus on enhancing user experience and community trustworthiness, to fully unleash the potential of the Zhihu brand and user base."
Mr. Wang Han, Chief Financial Officer of Zhihu, added: "We continue to improve profitability and achieve another milestone of the lowest loss quarter since the usa initial public offering. In the third quarter, our gross margin expanded to 63.9%, thanks to enhanced operational efficiency and strict cost management, with total costs and operating expenses down 35.6% and 30.5% respectively compared to the same period last year. Looking ahead, we will invest more resources to strategically explore business models that can strengthen Zhihu's high-value brand image and unique user positioning. In the long term, our goal is to achieve sustainable profitability growth and deliver substantial value returns to shareholders."