- Phoenix New Media (NYSE:FENG) posted in-line earnings in dollar terms ($0.13/share) on revenue that fell just short of expectations. Gross profit rose 7.1% to $37.2M.
- Revenue breakouts: Net advertising revenues, $54.6M (up 28.3%); Paid service revenues, $16M (down 27%).
- Adjusted gross margin was 53.9%, down from 54.6% the prior year.
- "We also saw very solid progress in terms of mobile monetization as evidenced by our mobile advertisement revenues growing by 113%," says CEO Shuang Liu.
- The company wrapped up a $50M ADS repurchase program last month.
- The company guided to Q1 revenues of 359M-379M yuan ($57.3M-$60.5M, vs. an expected $66.4M), with net advertising revenues from 269M-279M yuan ($42.9M-$44.5M) and paid service revenues from 90M-100M yuan ($14.4M-$15.95M).
- In personnel news, CTO Jiarui Richard Tong resigned for personal reasons.
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Conference call at 9 p.m. ET.
- Press release