Zhihu released its first quarter performance report for 2024 on June 12. The company's total revenue for the quarter was 961 million yuan, with vocational education revenue accounting for over 15% for the first time. The adjusted net loss (non GAAP) for the same period was 136 million yuan, and the gross profit margin increased from 51.5% in the same period last year to 56.6%.
From a business perspective, in the first quarter, Zhihu's paid reading business revenue was 450 million yuan, accounting for 46.8% of the total revenue, firmly ranking as the largest source of revenue; The income from vocational education was 145 million yuan, a year-on-year increase of 35.9%, accounting for over 15% for the first time; The revenue from marketing services is 331 million yuan. As of the end of the first quarter, the cumulative content creation volume of Zhihu reached 804 million, a year-on-year increase of 18.1%. The cumulative content creators on the platform reached 73.6 million, a year-on-year increase of 13.0%. The average monthly active users (MAUs) of Zhihu in the first quarter were 89 million, and the average monthly subscription members reached 14.8 million.
Zhou Yuan, founder, chairman, and CEO of Zhihu, said, "In 2024, we have made substantial progress in achieving our break even goals by improving operational efficiency and accelerating loss reduction. In addition, we have continued to promote community prosperity by enhancing the credibility of the Zhihu community. This has also led to a significant increase in the activity, retention rate, and daily active user visit time of core users. We believe that the potential of AI search functions and the continuously prominent value of trustworthy communities will provide new impetus for our sustainable growth and clarify the direction of quarterly profits for this year."