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October 25, 2010

Sohu.com Q3 revenue up 20% to $164.1m

Expects revenue to be in the range of $163m and $168m for Q4 2010

By CBR Staff Writer

Sohu.com has reported total revenues of $164.1m for the third quarter of 2010, up 20% compared to $137m for the same period last year.

Revenues from advertisements and online games increased to $64.5m and $86m, compared to $51m and $69m respectively for the third quarter of 2010.

However, revenues from wireless decreased by 18% to $14m, compared to $17.1m for the same period last year.

For the quarter ended 30 September 2010, the company posted an operating profit of $65.2m, an increase of 23% compared to $53m for the same quarter last year.

Net income for the third quarter of 2010 was $41m and diluted EPS was $1.01, compared to net income of $37.4m and diluted EPS of $0.88 for the same period last year.

Sohu chairman and CEO Charles Zhang said the company had a record quarter, with strong growth in each of their major business segments – online video, their potential future revenue driver, is gaining significant traction as they add high-definition content and leverage the synergies of the Sohu platform to make their video products even more attractive to both users and advertisers.

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"Also we believed that the introduction of strategic investors to our Sogou search business leaves our search business in a more competitive position and offers great promise for future collaboration and services with China’s largest e-commerce website," Zhang said.

The company anticipates total revenues to be in the range of $163m and $168m for the fourth quarter of 2010, with advertising revenues of $58m to $60m and online game revenues to range between $86m and $89m.

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