PHOENIX TV (02008.HK): Subsidiary Phoenix New Media Posts Q2 Revenue of RMB 216.7 Million, Up15.8% YoY, Swing to Net Profit
NewTimeSpace News: On 12 August 2026, Phoenix Media Investment (Holdings) Limited (stock code: 02008) issued an overseas regulatory announcement reporting the unaudited financial results for the second quarter of 2026 of Phoenix New Media Limited (NYSE: FENG), its non-wholly-owned subsidiary, which had been furnished to the U.S. Securities and Exchange Commission on12 August 2026.
According to the results, Phoenix New Media's total revenues in the second quarter of 2026 amounted to RMB 216.7 million (approximately USD31.9 million), an increase of 15.8% from RMB 187.1 million in the same period of 2025, driven primarily by year-on-year growth in paid services revenues. Net advertising revenues in the period amounted to RMB 146.9 million (approximately USD 21.6 million), a decrease of 4.2% from RMB 153.3 million in the same period of 2025. Paid services revenues amounted to RMB 69.8 million (approximately USD 10.3 million), an increase of 106.5% year on year, of which paid content revenues amounted to RMB 65.8 million, an increase of 114.3% year on year, primarily attributable to revenues generated by the Company's digital reading business through mini-programs on third-party applications.
With respect to costs and profitability, cost of revenues in the second quarter amounted to RMB 92.6 million, a decrease of 2.6% year on year. Gross profit grew 34.9% year on year from RMB 92.0 million to RMB 124.1 million (approximately USD 18.3 million), with the gross margin rising from 49.2% to 57.3%, primarily attributable to the higher gross margin of the digital reading business through mini-programs and the substantial growth in revenues therefrom. Total operating expenses in the period amounted to RMB 129.4 million, an increase of 30.4% year on year, primarily due to higher selling and marketing expenses incurred by the aforementioned digital reading business. Operating loss in the quarter was RMB 5.3 million (compared with an operating loss of RMB 7.2 million in the same period of 2025), with the operating margin at negative 2.4%.
Net income attributable to Phoenix New Media was RMB 6.5 million (approximately USD 1.0 million), compared with a net loss of RMB 10.4 million in the same period of 2025, representing a swing to profit, with a net margin of 3.0%. Basic and diluted net income per ordinary share was RMB 0.01. Under non-GAAP measures, net loss attributable to Phoenix New Media was RMB 1.1 million. As of 30 June 2026, the Company's cash and cash equivalents, term deposits, short-term investments and restricted cash totalled RMB 990.0 million (approximately USD 145.9 million).
The Company expects total revenues for the third quarter of 2026 to be between RMB 220.9 million and RMB 235.9 million, net advertising revenues between RMB 151.9 million and RMB 161.9 million, and paid services revenues between RMB 69.0 million and RMB 74.0 million; these expectations reflect management's current preliminary views and may be adjusted in light of the macroeconomic environment.
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