This article first appeared on GuruFocus .
-
Total Revenues:RMB200.9 million, a 22.3% increase year-on-year from RMB164.3 million.
-
Net Advertising Revenues:RMB159.3 million, a 7.3% increase year-on-year from RMB148.4 million.
-
Paid Services Revenues:RMB41.6 million, a 161.6% increase year-on-year from RMB15.9 million.
-
Cost of Revenues:RMB105.2 million, a 3.1% increase from RMB102 million in the same period last year.
-
Total Operating Expenses:RMB109 million, a 23.6% increase year-on-year from RMB88.2 million.
-
Loss from Operations:RMB13.3 million, compared to RMB25.9 million in the same period last year.
-
Net Loss Attributable to iFeng:RMB4.9 million, compared to RMB18.5 million in the same period last year.
-
Cash and Cash Equivalents:RMB1 billion (approximately USD140.5 million) as of September 30, 2025.
-
Q4 2025 Revenue Forecast:Between RMB205.9 million and RMB220.9 million.
-
Q4 2025 Net Advertising Revenue Forecast:Between RMB171.4 million and RMB181.4 million.
-
Q4 2025 Paid Service Revenue Forecast:Between RMB34.5 million and RMB39.5 million.
Release Date: November 13, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
-
Phoenix New Media Ltd ( NYSE:FENG ) achieved a 22.3% year-on-year increase in total revenues, reaching RMB200.9 million.
-
Net advertising revenues grew by 7.3% year-on-year, indicating resilience in a cautious ad market.
-
Paid services revenues saw a significant increase of 161.6% year-on-year, driven by digital reading services.
-
The company's live broadcast of the September 3 Military Parade attracted over 32 million views, showcasing strong audience trust.
-
Phoenix New Media Ltd ( NYSE:FENG ) successfully hosted major events like the Shanxi Cultural and Tourism Development Promotion Event, generating over 2 billion online impressions.
Negative Points
-
Total operating expenses increased by 23.6% year-on-year, primarily due to higher sales and marketing expenses.
-
Despite revenue growth, the company reported a net loss attributable to iFeng of RMB4.9 million.
-
The advertising market remains challenging, with clients being cautious about their budgets.
-
Loss from operations was RMB13.3 million, although this was an improvement from the previous year's loss.
-
The company faces intense competition and must focus on cost control to maintain steady performance.
Q & A Highlights
Q: The company's advertising business managed to grow in the third quarter despite market pressure. Could you please share how this was achieved? And what's your outlook for the ad market in Q4? A: Edward Lu, Chief Financial Officer, explained that achieving growth in advertising revenue was challenging due to cautious client budgets and rapidly changing marketing trends. The company focused on closer collaboration between client industry sales units and content teams, and leveraged media influence to connect with key clients. The Shanxi Culture and Tourism promotion event and the Star Anchor program were highlighted as successful initiatives. For Q4, competition will remain intense, but the company will focus on innovation and service improvement to maintain steady performance.
Q: How did the company manage to achieve a significant increase in paid services revenues? A: Edward Lu, Chief Financial Officer, attributed the 161.6% year-on-year increase in paid services revenues to the success of digital reading services offered through mini programs on third-party applications. This strategic move significantly boosted revenue in this segment.
Q: Can you elaborate on the impact of the Phoenix Bay Area Finance Forum 2025? A: Edward Lu, Chief Financial Officer, noted that the Phoenix Bay Area Finance Forum 2025 achieved over 720 million total impressions and appeared on multiple trending lists. It highlighted the company's strong brand influence and generated significant media coverage, further enhancing its reputation in the finance sector.
Q: What are the key factors contributing to the company's improved financial performance in Q3 2025? A: Edward Lu, Chief Financial Officer, highlighted the company's focus on high-quality original content, innovative product experiences, and influential offline events. These efforts strengthened the company's influence and reputation, leading to solid progress in commercialization and user engagement.
Q: What is the company's business outlook for the fourth quarter of 2025? A: Edward Lu, Chief Financial Officer, provided a revenue forecast of RMB205.9 million to RMB220.9 million for Q4 2025. The company expects net advertising revenues to be between RMB171.4 million and RMB181.4 million, and paid service revenues to be between RMB34.5 million and RMB39.5 million. The outlook reflects current views and is subject to change due to uncertainties.
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
