Phoenix New Media Ltd Stock Price, News & Analysis

Phoenix New Media Limited (NYSE: FENG) will announce its fourth quarter and fiscal year 2020 financial results on March 15, 2021, after market close. The earnings release will be accessible via the company's investor relations website. Following the announcement, a conference call is scheduled for 9:00 p.m. ET on the same day, with preregistration required due to COVID-19 restrictions. Participants can access the webcast and replay until March 23, 2021.

Phoenix New Media Limited (NYSE: FENG) announced on December 8, 2020, amendments to its trademark license agreements with Phoenix Satellite Television Holdings Limited, extending the agreements' terms to December 7, 2023. The amendments cover additional trademarks, including the double-phoenix logo and variations of the company name. Other terms of the 2017 agreements remain unchanged. Phoenix New Media specializes in premium content delivery across PC and mobile platforms in China, leveraging partnerships with telecom operators for mobile value-added services.

Phoenix New Media (NYSE: FENG) declared a special cash dividend of US$0.1714 per ordinary share, totaling approximately US$100 million, payable on December 22, 2020. The record date for this dividend is December 4, 2020. ADS holders will receive US$1.3512 per ADS after deductions. Additionally, the Board approved US$8.98 million in special cash compensation for option holders. This reflects the company's ongoing commitment to delivering shareholder value.

Phoenix New Media (NYSE: FENG) reported third quarter 2020 revenues of RMB303.0 million (US$44.6 million), a decline of 10.9% from the previous year, primarily due to COVID-19 impacts and increased competition. Net advertising revenues dropped by 10.2% to RMB281.3 million (US$41.4 million). While total operating expenses decreased by 20.8% to RMB181.4 million (US$26.7 million), the company posted a loss from operations of RMB28.4 million (US$4.2 million). Cash and equivalents stood at RMB2.37 billion (US$349.5 million) as of September 30, 2020, with forecasts reflecting continued pressure on revenues due to market conditions.

Phoenix New Media Limited (NYSE: FENG) will report its third quarter 2020 financial results on November 17, 2020, after market close. The earnings can be accessed on their investor relations website. Following the release, a conference call will be held at 8:00 p.m. ET on the same day, with preregistration required. Participants can find more information about registration and the call on the company's website. A replay will be available until November 25, 2020.

Phoenix New Media Limited (NYSE: FENG) announced its annual general meeting of shareholders set for December 9, 2020, at 2:00 p.m. in Beijing. Shareholders as of November 10, 2020, are eligible to vote. The meeting will address key resolutions, with notifications available on the company's Investor Relations website. Phoenix New Media is a prominent new media company in China, offering integrated Internet platforms for premium content.

Phoenix New Media (NYSE: FENG) reported its Q2 2020 financial results with revenues of RMB312.3 million, down 9.7% year-over-year, primarily due to COVID-19 impacts. However, revenues increased 35% from Q1 2020. The company achieved an operating income of RMB25.6 million, a turnaround from a loss in the previous year, with an operating margin of 8.2%. The gross profit rose by 4.1% to RMB187.6 million, leading to a gross margin of 60.1%. Looking ahead, Q3 2020 revenue guidance is between RMB295.4 million and RMB315.4 million, despite ongoing uncertainties.

Phoenix New Media Limited (NYSE: FENG) will announce its second quarter 2020 financial results on August 17, 2020, after market close. The report will be accessible on their investor relations website. Following the release, a conference call is scheduled for 9:00 p.m. Eastern Time on the same day to discuss financials and operational performance. Due to COVID-19, participants must preregister online. A replay will be available until August 25, 2020 via specified dial-in numbers.

Phoenix New Media (NYSE: FENG) announced a new share purchase agreement (New SPA) with Run Liang Tai Management, replacing the previous agreement for selling shares of Particle Inc. The Company will sell all its 140,248,775 shares of Particle for a total of US$150 million, with US$99.3 million already received post-deposit. Additionally, Phoenix provided a US$9.7 million interest-free loan to the Proposed Buyers, who will transfer back shares as repayment. The deal is contingent on approval by shareholders of Phoenix Media Investment (Holdings) Limited, and successful closing is not guaranteed.