Zhihu Inc. (ZH) Earnings Call Transcripts

Zhihu Inc.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Zhihu Inc. reported total revenues of RMB 651.6 million, reflecting a sequential growth and a narrowing year-over-year decline. The company achieved adjusted net profit of RMB 17.2 million, a significant improvement from a loss of RMB 39.4 million in the previous quarter. Management signaled a positive outlook, emphasizing a focus on high-quality growth and operational profitability, while maintaining their strategy to leverage AI capabilities across their platform.

Reported metrics

Guidance from management

Management expects continued high-quality growth throughout 2026, emphasizing operational profitability and leveraging AI capabilities. They indicated, "We expect our core businesses to show an accelerated recovery."

What management said

Yes. Thank you for the question, Daisy. We remain firmly committed to our share repurchase. We believe Zhihu has been 1 of the most active Chinese ADRs in terms of buyback intensity over the past 2 years. And since 2022, the company has repurchased accumulative like 63.5 million Class A ordinary shares in the open market with a total cost of USD 130 million. And year-to-date in 2026, the company has repurchased 4.61 ...

What analysts pressed on

Analysts expressed concerns regarding the sustainability of revenue growth and the impact of AI integration on profitability. There were questions about the timeline for AI-driven revenue acceleration and how the company plans to balance new investments with long-term profit goals.

Main topics on the call

• Revenue Recovery — Zhihu reported a sequential revenue growth in Q1 2026, with total revenues reaching RMB 651.6 million, indicating a healthier business ecosystem. Management noted, "Our total revenues achieved a positive sequential growt...
• Profitability Improvement — The company returned to profitability with an adjusted net profit of RMB 17.2 million, compared to a loss in the previous quarter. This marked a significant turnaround, as stated, "We delivered a strong sequential return...
• AI Integration Strategy — Management highlighted the ongoing integration of AI capabilities across their platform, aiming to enhance user engagement and content creation. They stated, "We continue to integrate core AI capabilities across content ...
• IP Operations Growth — Revenue from paid content and IP operations reached RMB 402.3 million, up 15.8% sequentially, driven by strong demand for original content adaptations. Management noted, "Revenue from IP operations delivered robust growt...

Read the full Zhihu Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 20 Zhihu Inc. earnings call transcripts on record, spanning May 17, 2021 to June 3, 2026. Based on this history, Zhihu Inc. reports quarterly. The most recent call on file is dated June 3, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

ZH

Exchange

NYSE

Country

US

Sector

Communication Services

Industry

Interactive Media and Services

Calls on record

20

First call

May 17, 2021

Most recent

June 3, 2026

Reporting cadence

quarterly