Sohu.com Slips To Loss In Q3, Revenues Rise; Sees Loss In Q4

Sohu.com

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(RTTNews) - Sohu.com Ltd. (SOHU), a Chinese online media, video, and game business group, reported Tuesday that its third-quarter net loss attributable to the company was $16.35 million or $0.52 per share, compared to prior year's profit of $21.37 million or $0.63 per share.

The prior year's result included disposal gain from discontinued operations of $35.43 million or $1.04 per share following bankruptcy proceedings of Changyou's unit Shanghai Jingmao Culture Communication Co., Ltd.

On a continuing operations basis, net loss attributable to the company was $16.35 million or $0.52 per share, wider than prior year's net loss of $14.06 million or $0.41 per share.

Adjusted net loss from continuing operations attributable was $12.42 million or $0.39 per share, compared to net loss of $10.20 million or $0.30 per share a year ago.

Total revenues were $152 million, up 5 percent from last year's $145.43 million. Brand advertising revenues fell 15 percent year-over-year to $19 million, while online game revenues grew 9 percent to $128 million.

Looking ahead, for the fourth quarter, Sohu estimates net loss attributable between $30 million and $40 million, and adjusted net loss attributable between $26 million and $36 million.

The company projects Brand advertising revenues to be between $17 million and $19 million, an annual decrease of 6 percent to 16 percent. Online game revenues would be between $97 million and $107 million, an annual decrease of 7 percent to 15 percent.

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