Sohu.com Q2 Loss Widens Despite Higher Revenues - Quick Facts

(RTTNews) - Sohu.com Inc. (SOHU), a Chinese online media, search, gaming, community and mobile service group, reported Monday that its second-quarter net loss attributable to the company was $88.18 million or $2.28 per share, wider than loss of $63.02 million or $1.64 per share a year ago.

Adjusted attributable net loss was $71.76 million or $1.85 per share, compared to net loss of $62.84 million or $1.62 per share last year.

Total revenues for the quarter rose 10 percent to $461.17 million from $420.14 million a year ago.

Brand advertising revenues were $86 million, down 24 percent year-over-year, while search and search-related advertising revenues rose 17 percent to $187 million. Online game revenues were $122 million, up 23 percent. Sougou revenues increased 20 percent to $211 million.

Charles Zhang, Chairman and CEO of Sohu.com, said, "I am pleased that Sohu delivered better-than-expected revenue growth in the second quarter, driven by solid performance from Changyou and Sogou. Group revenues totaled US$461 million, up 10% year-over-year and 23% quarter-over-quarter."

"The highlight of the quarter was Legacy TLBB, our new mobile game that is a big hit and ranked as one of the top grossing games in China between its launch in mid-May and the end of the quarter," Zhang added.

Looking ahead to the third quarter, Sohu expects attributable net loss between $42 million and $52 million, or loss per share between $1.08 and $1.34. Adjusted attributable net loss for the quarter would be between $39 million and $49 million, or loss per share between $1.00 and $1.25.

Total revenues for the quarter are projected to be between $480 million and $510 million.