BEIJING (dpa-AFX) - Zhihu Inc. (ZH), an online content community in China, on Wednesday, announced a turnaround to profit in its fourth quarter, helped by higher operating profit and lower operating expenses. Total revenues, however, declined from last year.
The company posted net income of RMB 86.4 million or $11.8 million in the fourth quarter, compared to net loss of RMB 103.1 million in the same period last year. Earnings per share were RMB 0.33, compared to loss of RMB 0.36 in the previous year period.
On a per American Depositary Share or ADS basis, income was RMB 1.00 or $0.14, in contrast to net loss ADS of RMB1.07 in the prior-year quarter.
Excluding items, net income was RMB 97.1 million or $13.3 million. In the year-ago quarter, the company reported loss of RMB 91.3 million.
Quarterly revenues declined to RMB 859.2 million or $117.7 million from RMB 1.14 billion in the same quarter last year.
During the three-month period, income from operations was RMB 11.9 million or $1.6 million, compared to a loss from operations of RMB 178.2 million in the fourth quarter of 2023.
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