Zhihu Loss Narrows in Quarter ended March 31

MT Newswires Live06-12

Zhihu (HKG:2390) reported a net loss attributable to its shareholders of 164.8 million yuan for the quarter ended March 31, 2024, narrower than the net loss of 181.4 million yuan from the year-ago period but wider than the net loss of 103.8 million yuan from the quarter ended Dec. 31, 2023, a Wednesday filing with the Hong Kong Exchange said.

The companyâs revenue for the period was 960.9 million yuan, lower than both the 994.2 million yuan from the year-ago period and 1.14 billion yuan from the quarter ended Dec. 31, 2023.

The company attributed the decrease in revenue to an increased research and development cost for technology, a decrease in average monthly subscribers, and increased costs of ongoing refinement of service offerings.

The company saw a loss per share of 0.59 yuan for the period, same as the value from the year-ago period but wider than the loss per share of 0.36 yuan from the quarter ended Dec. 31, 2023.

The company's shares fell over 3% on Wednesday's close.

Price (HKD): $8.43, Change: $-0.29, Percent Change: -3.33%

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