Sohu.com Slips To Loss In Q3, Revenues Weak; Sees Loss In Q4 - Quick Facts

(RTTNews) - Sohu.com Limited (SOHU), a Chinese online media company, on Monday reported that third-quarter net loss attributable to the company was $22 million or $0.63 per ADS, compared to last year's profit of $834.20 million or $21.06 per ADS.

Excluding last year's $821.90 million gain from discontinues operations, net profit from continuing operations was $12.30 million or $0.31 per ADS.

Adjusted net loss attributable to Sohu.com Limited was $17 million or $0.50 per ADS, compared to net income of $17 million in 2021.

Total revenues were $185.27 million, down 14 percent from $216.09 million last year.

Brand advertising revenues were $26 million, down 24 percent year-over-year.

The company said it faced severe headwinds from the COVID-19 pandemic and uncertainties in the macroeconomic environment.

Looking ahead for the fourth quarter of 2022, Sohu estimates net loss attributable to be between $13 million and $23 million, and adjusted net loss attributable to be between $10 million and $20 million.

Brand advertising revenues would be between $25 million and $28 million, an annual decrease of 17 percent to 26 percent.

Online game revenues would be between $118 million and $128 million, an annual decrease of 11 percent to 18 percent.