Zhihu Inc. (ZH) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 30, 2022 7:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Zhihu Inc. Third Quarter 2022 Financial Results Conference Call. At this time all participants are in listen-only mode. After the speakers' presentation, there will be a Q&A session. Today's conference is being recorded.

At this time, I would like to turn the conference over to Ms. Jingjing Du, Head of Investor Relations. Please go ahead, ma'am.

Jingjing Du

Thank you, operator. Hello, everyone. Welcome to our third quarter 2022 financial results conference call. Joining us today are Mr. Zhou Yuan, our Chairman and CEO of Zhihu; and Mr. Sun Wei, our CFO.

Before we start, we would like to remind you that today's discussion may contain forward-looking statements, which involve a number of risks and uncertainties. Actual results and outcomes may differ materially from those mentioned in today's announcement and this discussion. The company does not undertake any obligation to update this forward-looking information, except as required by law. During today's call, management will also discuss certain non-GAAP financial measures for comparison purposes only. For a definition of non-GAAP financial measures and a reconciliation of GAAP to non-GAAP financial results, please see our earnings release issued earlier today. In addition, a webcast replay of this conference call will be available on our website at ir.zhihu.com.

I will now turn the call over to Mr. Sun Wei, our CFO.

Sun Wei

Thank you, Jingjing. I'm pleased to deliver today's opening remarks on behalf of Mr. Zhou Yuan, Founder and CEO of Zhihu. Thank you for joining Zhihu's third quarter 2022 earnings call. We've delivered another quarter of solid execution on our community ecosystem first strategy and are delighted with the strides we have made promoting our community's prosperity. Starting from the beginning of this year, we shifted our specific focus toward growing quality users and further bolstering the strength and resilience of our content-centric business model. In Q3, the activeness rate of our app users at DAU over MAU reached its highest level in the past three quarters of this year, and the time spent per daily active users climbed both year-over-year and quarter-over-quarter. Despite the still challenging macro environment, our community ecosystem demonstrated strength and resilience during the third quarter. Total revenues were up by double-digit on a year-over-year basis as we continue to expand and optimize our content offerings and enhance our content creators user experience.