Sohu.com Inc ( (SOHU) ) has released its Q3 earnings. Here is a breakdown of the information Sohu.com Inc presented to its investors.
Sohu.com Limited is a prominent Chinese online media, video, and game company known for its diversified web properties and popular gaming platform, Changyou.
In its latest earnings release, Sohu.com reported total revenues of $152 million for the third quarter of 2024, reflecting a 5% increase year-over-year but a 12% decline quarter-over-quarter. The company also noted that its online game revenues and overall performance exceeded expectations, despite a net loss of $16 million.
A detailed examination of Sohu’s financial results reveals that online game revenues reached $128 million, up 9% from the previous year. Brand advertising, however, saw a decline with revenues falling to $19 million, representing a 15% decrease year-over-year. The company’s operating expenses fell significantly, contributing to a reduced GAAP operating loss of $13 million. In a strategic move, Sohu extended its share repurchase program to November 2026, signaling confidence in its long-term value.
Looking forward, Sohu anticipates a challenging fourth quarter with projected decreases in both brand advertising and online game revenues. The company remains focused on enhancing its product offerings and user engagement initiatives to navigate the uncertain market conditions while maintaining a robust liquidity position.
