Sohu.com Q2 Profit Rises; Online Game Revenues Up 43%

(RTTNews) - China's online media, video, gaming and search business group Sohu.com Limited (SOHU) reported that its second-quarter profitability exceeded the prior guidance due to outperformance of the company's online game business. For mobile games, total average monthly active user accounts or MAU were 1.9 million, a decrease of 39% year-over-year. The company said the year-over-year decrease was mainly from Legacy TLBB Mobile and TLBB Honor. For PC games, total MAU were 2.1 million, an increase of 9% year-over-year mainly contributed by 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 per 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 per ADS was $0.55, for the quarter.

Total revenues were $204 million, up 28% year-over-year. Brand advertising revenues were $37 million, down 3%. Online game revenues were $151 million, up 43% from prior year.

For the third quarter, Sohu expects: brand advertising revenues to be between $35 million and $39 million; online game revenues to be between $145 million and $155 million; and non-GAAP net income from continuing operations attributable to Sohu.com to be between nil and $10 million; and GAAP result from continuing operations attributable to Sohu.com to be between a net loss of $4 million and a net income of $6 million.