The following is a summary of the Zhihu Inc. (ZH) Q1 2024 Earnings Call Transcript:
Financial Performance:
Gross profit margin showed a year-over-year increase, with the sixth consecutive quarter of growth.
Pay membership business revenue reached RMB449.7 million with 14.8 million subscribing members.
Marketing services revenue was RMB330.5 million, a decline of 15.7% year-over-year. Brand advertising within this segment grew by 40%.
Vocational training revenue grew robustly by 35.9% year-over-year to RMB145.4 million.
Business Progress:
Zhihu focused on enhancing AI applications in content creation and management.
Launched the AI search feature 'Discovery' showing a positive impact on user activity.
Expanded vocational training offerings and integrated community feedback into the development of new courses.
Launched the stand-alone Yin Yang Story app to separate story content from non-story content, improving user experience.
Opportunities:
Further application of AI in improving operational efficiencies and enhancing user engagement.
Expansion of vocational training business with a focus on AI, AGI, and software training programs.
Risks:
Decline in marketing services revenue and the ongoing refinement and adjustment of community-related costs.
More details: Zhihu IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.