Phoenix New Media (FENG) Q2 2026 earnings summary

Executive summary

• New CEO emphasized focus on professional content, brand influence, and operational efficiency to enhance long-term shareholder value.

• Management highlighted strong demand for high-quality content and successful coverage of major international events, driving business opportunities.

• Strategic use of AI in content workflow is improving efficiency and cost optimization.

• Total revenues for Q2 2026 rose 15.8% year-over-year to RMB 216.7 million, driven by a surge in paid services revenues.

• Net income attributable to shareholders reached RMB 6.5 million, reversing a net loss of RMB 10.4 million in Q2 2025.

Financial highlights

• Total revenues reached RMB 216.7 million, up 15.8% year-over-year from RMB 187.1 million.

• Paid services revenues soared 106.5% year-over-year to RMB 69.8 million, with digital reading services up 114.3%.

• Net advertising revenues were RMB 146.9 million, down from RMB 153.3 million year-over-year.

• Cost of revenues decreased 2.6% to RMB 92.6 million; gross margin improved to 57.3% from 49.2%.

• Net income attributable to shareholders was RMB 6.5 million, compared to a net loss of RMB 10.4 million in the prior year.

Outlook and guidance

• Q3 2026 total revenues forecasted between RMB 220.9 million and RMB 235.9 million.

• Net advertising revenues projected at RMB 151.9–161.9 million; paid service revenues at RMB 69–74 million.

• Guidance reflects current views and is subject to substantial uncertainties, including macroeconomic conditions.