Phoenix New Media Expects Its Q1'2024 Total Revenues To Be RMB130.8M-RMB145.8M, Down From RMB211.8M Posted In Q4'2023
Portfolio Pulse from Benzinga Newsdesk
Phoenix New Media forecasts a decrease in its total revenues for Q1'2024 to RMB130.8M-RMB145.8M, down from RMB211.8M in Q4'2023. The expected decline includes net advertising revenues between RMB121.3M and RMB131.3M, and paid services revenues between RMB9.5M and RMB14.5M.
March 12, 2024 | 9:21 pm
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Phoenix New Media expects a significant decrease in total revenues for Q1'2024, indicating a potential downturn in its financial performance.
The expected decrease in total revenues for Q1'2024 compared to Q4'2023 suggests a negative outlook for Phoenix New Media's financial health in the short term. This forecast could lead to a decrease in investor confidence and potentially impact the stock price negatively.
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