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Sohu.com Limited reports recurring developments for a Chinese online media platform and game business group whose securities trade on Nasdaq as American depositary shares. Company updates commonly cover unaudited quarterly and annual results, marketing services revenue, online game revenue, gross margin trends, and annual report availability.
Sohu operates Chinese-language web and mobile properties including Sohu News App, Sohu Video App, its mobile and PC portals, and community-based content services using text, pictures, video, and live broadcasting. Its online games business is conducted through Changyou, which develops and operates PC and mobile games including Tian Long Ba Bu (TLBB), Legacy TLBB Mobile, and related game platforms.
Sohu.com (NASDAQ: SOHU) reported unaudited financial results for Q1 2024, ending March 31. Total revenues were $139 million, a 14% decline year-over-year and 1% decline quarter-over-quarter. Brand advertising revenues fell to $16 million, a 29% drop year-over-year and 20% drop quarter-over-quarter. Online game revenues were $118 million, a 9% decrease year-over-year but a 3% increase quarter-over-quarter.
The GAAP net loss was $25 million, compared to $18 million in Q1 2023 and $13 million in Q4 2023. Non-GAAP net loss was $22 million, versus $13 million in Q1 2023 and $11 million in Q4 2023. Cash and equivalents totaled approximately $1.3 billion. For Q2 2024, Sohu projects brand advertising revenues between $18 million and $20 million, and online game revenues between $133 million and $143 million.
Sohu.com (NASDAQ: SOHU) will announce its first quarter 2024 unaudited financial results on May 20, 2024. The management will host a conference call on the same day. Participants can register for the call online. The webcast and archive will be accessible on Sohu's Investor Relations website.
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