Zhihu Registers 55% Revenue Growth In Q1 Despite COVID Resurgence, Macro Uncertainties - Zhihu (NYSE:ZH)

Zhihu Inc ZH reported first-quarter FY22 revenue growth of 55.4% year-on-year to $117.2 million, beating the consensus of $107.3 million.
Segments: Zhihu's Advertising revenue increased 1.7% Y/Y to $34.3 million.
Paid membership revenue expanded 75.1% Y/Y to $35 million. Content-commerce solutions revenue rose 87.7% Y/Y to $35.8 million.
Drivers: Average monthly active users (MAUs) grew 19.4% Y/Y to 101.6 million. Average monthly paying members rose 72.8% Y/Y to 6.9 million.
Margin: The gross margin contracted by 1,190 bps to 45.1% as the costs surged 98.3% Y/Y.
Loss per ADS was $(0.16). The adjusted net loss was $58.0 million.
Zhihu held $1.1 billion in cash and equivalents.
Dual Primary Listing: On April 22, Zhihu successfully listed its shares on the Hong Kong Stock Exchange.
Share Buyback: Zhihu proposed a share buyback of up to $100 million.
CFO Wei Sun added, "Despite the recent resurgence of COVID-19 and macroeconomic uncertainties, we are delighted to report another solid quarter of performance in the first quarter of 2022, with total revenues up 55.4% year over year."
Price Action: ZH shares traded higher by 2.92% at $1.37 on the last check Wednesday.