Caixin
May 26, 2022 07:44 PM
BUSINESS

Q&A Site Zhihu Founder Vows to Slash Red Ink as Losses Grow

What’s new: Q&A platform Zhihu Inc.’s net losses widened 89% year-on-year to 614 million yuan ($92 million) in the first quarter, according to its quarterly earnings released on Wednesday.

That was despite a previously-stated goal of paring the firm’s losses this year.

The Hong Kong- and NYSE-listed company’s revenue, meanwhile, jumped 55% from a year earlier to 743 million yuan during the period. Its cost of revenue almost doubled year-on-year to 408 million yuan due to increased spending on advertising services, content-related costs, and more staff headcount.

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