Chinese knowledge sharing platform Zhihu Inc. (ZH) saw its stock plummet 5.16% in intraday trading on Tuesday, following the company's release of unaudited financial results for the third quarter of 2024.
While Zhihu reported an improved adjusted earnings per ADS of -$0.01, up from -$0.30 in the prior year period, investors appeared to focus on the weaker-than-anticipated top-line performance. Total revenues for Q3 2024 declined 14% year-over-year to $120.4 million, missing analyst expectations.
Despite narrowing its adjusted net loss significantly compared to Q3 2023, the continued revenue slowdown raised concerns among investors about the company's growth trajectory amidst a challenging macroeconomic environment in China. The selloff highlights the market's emphasis on Zhihu's ability to reignite its topline growth in the coming quarters.
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