Zhihu Inc., a leading online content community in China, reported its unaudited financial results for the second quarter of 2024. The company saw a decrease in total revenues to RMB933.8 million (US$128.5 million) compared to RMB1,044.2 million in the same period of 2023. Despite the revenue decline, Zhihu achieved a significant reduction in net loss, which narrowed by 71.1% to RMB80.6 million (US$11.1 million), and an adjusted net loss (non-GAAP) that narrowed by 79.9% to RMB44.6 million (US$6.1 million). The company also reported an expansion in gross margin to 59.6% and a decrease in total operating expenses by 16.7%. Zhihu's average monthly active users (MAUs) were 80.6 million, and average monthly subscribing members were 14.7 million. The company's strategic decisions and execution led to improved financial results and user...Show More

Zhihu Inc., a leading online content community in China, reported its unaudited financial results for the second quarter of 2024. The company saw a decrease in total revenues to RMB933.8 million (US$128.5 million) compared to RMB1,044.2 million in the same period of 2023. Despite the revenue decline, Zhihu achieved a significant reduction in net loss, which narrowed by 71.1% to RMB80.6 million (US$11.1 million), and an adjusted net loss (non-GAAP) that narrowed by 79.9% to RMB44.6 million (US$6.1 million). The company also reported an expansion in gross margin to 59.6% and a decrease in total operating expenses by 16.7%. Zhihu's average monthly active users (MAUs) were 80.6 million, and average monthly subscribing members were 14.7 million. The company's strategic decisions and execution led to improved financial results and user retention. Zhihu launched Zhihu Zhida, an AI search initiative, in late June, which has received positive user feedback. The company also highlighted its lowest quarterly loss since its U.S. IPO and its commitment to enhancing shareholder returns, including a share repurchase program. As of June 30, 2024, Zhihu repurchased 31.1 million Class A ordinary shares under its 2022 Repurchase Program and established a concurrent 2024 Repurchase Program effective until June 26, 2025.