Courtesy of Benzinga.
Sohu.com (NASDAQ: SOHU) posted a loss in the second quarter.
The Chinese portal posted a quarterly loss of $45 million, or $1.16 per share, versus a loss of $69 million in the earlier quarter. Non-GAAP net loss came in at US$34 million, or US$0.88 loss per share.
Operating loss narrowed to US$62 million in the quarter, versus an operating loss of US$69 million in the prior quarter and operating profit of US$64 million in the year-ago quarter. Its non-GAAP operating loss came in at US$35 million. Its adjusted loss came in at $0.88 per share.
Its revenue climbed 18% y/y to $400 million. However, analysts were expecting a loss of $1.38 per share on revenue of $407.78 million.
Brand advertising revenue jumped 33% y/y to US$133 million, while Sogou revenue climbed 82% to US$91 million. Online game revenue fell 9% to US$154 million.
Total online advertising revenue increased 49% y/y to US$218 million.
The company’s operating expenses increased 82% y/y to $292 million.
Sohu.com expects Q3 non-GAAP loss per share of US$0.75 to US$0.85 on total revenue of US$427 million to US$442 million.
Dr. Charles Zhang, Chairman and CEO of Sohu.com said, “I am pleased to report that our Group’s quarterly revenues hit record high of $400 million, in line with our prior guidance. Notably, for our news and video businesses, we made solid progress in mobile monetization as our large user base successfully attracted a growing number of advertisers.”
Sohu.com shares gained 0.87% to $57.90 in after-hours trading.
