Zhihu (NYSE:ZH) Posts Quarterly Earnings Results, Misses Expectations By $0.30 EPS

Zhihu (NYSE:ZH) released its earnings results on Wednesday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.30), FiscalAI reports. Zhihu had a return on equity of 2.42% and a net margin of 3.41%.The firm had revenue of $91.98 million during the quarter, compared to the consensus estimate of $640.41 million.

Here are the key takeaways from Zhihu’s conference call:

• Achieved our first-ever full-year non-GAAP profit, with adjusted net income of RMB 37.9 million in 2025 versus an adjusted net loss of RMB 96.3 million in 2024.
• Total Q4 revenue was RMB 643.5 million (down year‑over‑year) but showed a clear sequential recovery—marketing services rose 24% sequentially while paid membership ARPU and renewal rates improved modestly.
• Accelerating AI integration and monetization: the company is building expert data solutions, AI productivity tools, and AI‑driven IP initiatives (including Yanyan Stories and AI comic/drama formats) as new scalable revenue streams.
• Q4 GAAP net loss was RMB 210.8 million, driven in part by a one‑time non‑cash goodwill impairment of RMB 126.3 million that materially increased operating expenses for the quarter.
• Balance sheet and capital allocation actions include RMB 4.5 billion in cash and equivalents as of Dec 31, 2025, and ~47.7 million Class A shares repurchased in 2025 (about 6.29% of issued ordinary shares).

Zhihu Price Performance

Shares of NYSE:ZH traded down $0.11 on Thursday, hitting $2.73. 578,224 shares of the company’s stock were exchanged, compared to its average volume of 408,582. The stock has a market capitalization of $240.32 million, a price-to-earnings ratio of 17.03 and a beta of 0.26. Zhihu has a 12 month low of $2.71 and a 12 month high of $5.55. The business’s 50 day simple moving average is $3.40 and its two-hundred day simple moving average is $3.90.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Zhihu in a research report on Monday, December 29th. Wall Street Zen raised Zhihu from a “sell” rating to a “hold” rating in a research note on Sunday, December 28th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Trading of Zhihu

A hedge fund recently bought a new stake in Zhihu stock. Ameriprise Financial Inc. purchased a new position in Zhihu Inc. Sponsored ADR (NYSE:ZH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 25,006 shares of the company’s stock, valued at approximately $100,000. 28.92% of the stock is currently owned by institutional investors and hedge funds.

Zhihu Company Profile

Zhihu is China’s leading online question-and-answer platform, providing a space where users can ask questions, share knowledge, and engage with content across science, technology, business, culture, and lifestyle. Founded in 2011 and headquartered in Beijing, Zhihu has cultivated a community-driven environment that emphasizes credible, in-depth answers from experts, professionals, and enthusiasts.

The company’s core service revolves around its Q&A platform, enabling registered users to post questions and receive comprehensive responses.