Sohu.com Posts Loss In Q4; Online Game Revenues Down 16%

(RTTNews) - Sohu.com Limited (SOHU) reported a fourth-quarter net loss from continuing operations attributable to Sohu.com of $7.09 million compared to profit of $3.59 million, last year. Loss per share from continuing operations was $0.21 compared to profit of $0.09. Non-GAAP net loss attributable to Sohu.com of $2 million, compared with net income of $0.2 million, prior year.

Total revenues declined to $160.40 million from $192.99 million, previous year. Brand advertising revenues were $29 million, down 14% year-over-year. Online game revenues were $121 million, down 16% year-over-year. The company said the year-over-year decrease was mainly due to the natural decline of older games, including Little Raccoon: Heroes and TLBB PC.

For the first quarter, Sohu estimates: non-GAAP net loss attributable to Sohu.com to be between $15 million and $25 million; and GAAP net loss attributable to Sohu.com to be between $20 million and $30 million. Brand advertising revenues is projected to be between $20 million and $23 million; this implies an annual decrease of 3% to 16%. Online game revenues are projected to be between $121 million and $131 million; this implies an annual decrease of 17% to 23%.

As of December 31, 2022, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately $1.44 billion.

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