Phoenix TV (02008) has announced the first-quarter 2026 financial results for its subsidiary, Phoenix New Media. Total revenue for Q1 2026 reached RMB 188.8 million (approximately USD 27.4 million), representing a year-on-year increase of 21.6% compared to RMB 155.2 million in the same period of 2025. This growth was primarily driven by an increase in paid services revenue.

Net advertising revenue for Q1 2026 was RMB 125.3 million (approximately USD 18.2 million), up 4.0% from RMB 120.5 million in Q1 2025. Revenue from paid services surged to RMB 63.5 million (approximately USD 9.2 million), an 83.0% increase from RMB 34.7 million in the prior-year period. Paid services revenue comprises income from paid content as well as revenue from e-commerce and other sources.

Within paid services, revenue from paid content specifically was RMB 59.9 million (approximately USD 8.7 million), a significant 92.0% rise from RMB 31.2 million in Q1 2025. This increase was mainly attributable to revenue generated from the digital reading business conducted through mini-programs on third-party application platforms during Q1 2026. E-commerce and other revenue amounted to RMB 3.6 million (approximately USD 0.5 million), a modest increase of 2.9% from RMB 3.5 million in the same quarter of 2025.

Gross profit for the first quarter of 2026 rose by 61.1% to RMB 101.0 million (approximately USD 14.7 million) from RMB 62.7 million in Q1 2025. The gross profit margin improved to 53.5%, up from 40.4% in the prior-year period. The margin expansion was primarily due to the higher-margin digital reading business via mini-programs and its substantial revenue growth.

Phoenix New Media reported a net loss attributable to the company of RMB 16.8 million (approximately USD 2.4 million) for Q1 2026, compared to a net loss of RMB 29.7 million in Q1 2025. The net loss margin improved to negative 8.9% from negative 19.2% year-on-year. Basic and diluted net loss per ordinary share was RMB 0.03 (approximately USD 0.00) for the quarter, compared to a loss of RMB 0.05 per share in the first quarter of 2025.