On August 23, 2022, Zhihu released its Q2 2024 performance report. The company achieved a total revenue of 934 million yuan and adjusted net loss decreased by 79.9% year-on-year to 44.6 million yuan, the largest reduction in losses and the smallest net loss since its listing, surpassing market expectations.
In the second quarter, Zhihu's paid reading business remained the largest source of revenue, achieving a revenue of 433 million yuan, accounting for over 46% of the total revenue; The revenue from marketing services and vocational education business was 344 million yuan and 134 million yuan respectively.
In this quarter, Zhihu's gross profit margin increased from 53.8% in the same period last year to 59.6%, and its adjusted net loss decreased by 79.9% year-on-year to 44.6 million yuan, creating the largest net loss decline since its listing. At the same time, both the net loss amount and adjusted net loss ratio reached the lowest level in a single quarter, accelerating the achievement of the quarterly profit target.
As of the end of the second quarter, Zhihu's cumulative content creation reached 831 million, a year-on-year increase of 16.8%. The platform's cumulative content creators reached 74.9 million, a year-on-year increase of 12.5%. In the second quarter, Zhihu's average monthly active users (MAUs) reached 80.6 million, and multiple indicators such as user health, user activity rate, and core user retention have steadily improved.
Zhihu founder, chairman, and CEO Zhou Yuan said, "Our strategic decisions and efficient execution have brought excellent financial performance to the second quarter of 2024. At the same time, we have made significant progress in improving the core user experience, with a continuous increase in user retention rate and daily active user duration. On the premise of community trust, we launched Zhihu Direct Answer at the end of June, marking important progress in the field of artificial intelligence search. The continuous improvement of Zhihu Direct Answer user retention rate and positive feedback from users demonstrate our unique advantages and huge development potential in this field
It is reported that in the second half of the year, Zhihu Zhida will continue to upgrade and iterate on product functions, algorithms, and performance, such as launching mobile devices, adding multimodal functions, exploring more industry application scenarios, and continuously optimizing product functions and user experience.