Second Quarter Sohu.com Profits Rise; Online gaming revenues up 43%

(RTTNews) – Chinese online media, video, games and research group Sohu.com Limited (SOHU) announced that its second quarter profitability exceeded previous forecasts due to the outperformance of the games business online of the company. For mobile games, the total number of average monthly active user accounts or MAUs was 1.9 million, down 39% year-over-year. The company said the year-over-year decline was mainly due to Legacy TLBB Mobile and TLBB Honor. For PC games, the total MAU was 2.1 million, a 9% year-over-year increase mainly due to TLBB Vintage.

Second quarter non-GAAP net income from continuing operations attributable to Sohu.com was $ 25 million compared to net income of $ 12 million a year ago. Non-GAAP net income by ADS was $ 0.63 for the quarter. GAAP net income from continuing operations attributable to Sohu.com was $ 22 million, compared to net income of $ 11 million last year. GAAP net income from continuing operations by ADS was $ 0.55 for the quarter.

Total revenue was $ 204 million, up 28% year-on-year. The brand’s advertising revenue was $ 37 million, down 3%. Online gaming revenue was $ 151 million, up 43% from the previous year.

For the third quarter, Sohu expects: the brand’s advertising revenue will be between $ 35 million and $ 39 million; online gaming revenues range between $ 145 million and $ 155 million; and non-GAAP net income from continuing operations attributable to Sohu.com of between $ zero and $ 10 million; and GAAP results from continuing operations attributable to Sohu.com ranged from net loss of $ 4 million to net income of $ 6 million.

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