Phoenix Media Investment (Holdings) Limited (Stock Code: 02008) announced that its non-wholly owned subsidiary, Phoenix New Media Limited (NYSE: FENG), has released unaudited financial results for the quarter ended September 30, 2025.

According to the announcement, Phoenix New Media’s total revenues for the third quarter reached RMB200.9 million (US$28.2 million), a 22.3% increase compared with the same period in 2024. Net advertising revenues rose to RMB159.3 million (US$22.4 million), up 7.3% year-over-year. Paid services revenues grew significantly by 161.6% to RMB41.6 million (US$5.8 million), driven mainly by strong demand for digital reading services.

Cost of revenues increased slightly to RMB105.2 million (US$14.8 million), while operating expenses rose 23.6% to RMB109.0 million (US$15.3 million). Net loss attributable to Phoenix New Media Limited narrowed to RMB4.9 million (US$0.7 million), compared with a net loss of RMB18.5 million for the same period last year. Looking ahead to the fourth quarter of 2025, total revenues are projected to be between RMB205.9 million and RMB220.9 million, with net advertising revenues between RMB171.4 million and RMB181.4 million, and paid services revenues between RMB34.5 million and RMB39.5 million.