SOHU.COM REPORTS THIRD QUARTER 2026 UNAUDITED FINANCIAL RESULTS

Fourth-quarter guidance calls for a US$17 million–US$27 million net loss, while marketing services revenue is expected to decline.

Rhea-AI Summary

Sohu.com (NASDAQ: SOHU) reported third-quarter 2026 revenue of US$133 million, down 26% year-over-year and 2% quarter-over-quarter.

For the quarter ended September 30, marketing services revenue rose 10% year-over-year to US$15 million, while online game revenue fell 30% to US$114 million. GAAP net loss attributable to Sohu was US$15 million, or US$0.60 per fully diluted American depositary share, versus US$9 million net income a year earlier. Operating expenses fell 9% year-over-year to US$120 million. Cash, short-term investments and long-term time deposits totaled approximately US$1.2 billion.

Sohu expects fourth-quarter marketing services revenue of US$13 million–US$14 million, online game revenue of US$111 million–US$121 million and a GAAP net loss of US$17 million–US$27 million. Repurchases totaled 10.1 million depositary shares for approximately US$134 million through November 5, 2026.

6 points · 1 major

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0 major · 14 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point10.1 million ADSs repurchased for approximately US$134 million through November 5 under the up-to-US$150 million program. 37% of market cap
• Moderate pointOperating expenses of US$120 million fell 9% year-over-year and 4% quarter-over-quarter.
• Minor pointMarketing services revenue of US$15 million rose 10% year-over-year, but fell 2% quarter-over-quarter.
• Minor pointCost of revenues of US$32 million fell 9% year-over-year, but rose 9% quarter-over-quarter.
• Minor pointCash, short-term investments and long-term time deposits totaled approximately US$1.2 billion at September 30, 2026.
• Minor pointChangyou operating expenses of US$42 million fell 23% year-over-year and 12% quarter-over-quarter.

Negative

• Moderate pointTotal revenue of US$133 million fell 26% year-over-year and 2% quarter-over-quarter.
• Moderate pointGAAP net loss of US$15 million compared with US$9 million profit a year earlier and US$0.2 million the preceding quarter.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter GAAP and non-GAAP net loss expected at US$17 million–US$27 million.
• Minor pointOnline game revenue of US$114 million fell 30% year-over-year and 2% quarter-over-quarter.
• Minor pointOperating loss of US$18 million compared with US$14 million profit a year earlier and US$18 million loss the preceding quarter.

9 minor points

• Minor pointMarketing services costs of US$15 million rose 23% year-over-year and 11% quarter-over-quarter.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter marketing revenue guidance of US$13 million–US$14 million implies annual declines of 18%–24% and sequential declines of 6%–13%.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter online game revenue guidance of US$111 million–US$121 million spans annual changes of -8% to +1%, sequentially -3% to +6%.
• Minor pointPC monthly active accounts of 2.6 million fell 4% year-over-year and were flat quarter-over-quarter.
• Minor pointPC quarterly paying accounts of 1.0 million fell 8% year-over-year, but rose 4% quarter-over-quarter.
• Minor pointMobile monthly active accounts of 1.4 million fell 24% year-over-year and 16% quarter-over-quarter.
• Minor pointMobile quarterly paying accounts of 0.2 million fell 25% year-over-year and 4% quarter-over-quarter.
• Minor pointChangyou revenue of US$115 million fell 30% year-over-year and 2% quarter-over-quarter.
• Minor pointChangyou GAAP operating profit of US$58 million compared with US$87 million a year earlier and US$55 million the preceding quarter.

Key Figures

Total revenue: US$133 million Marketing services revenue: US$15 million Online game revenue: US$114 million +5 more

Total revenue

US$133 million

Q3 2026; down 26% year-over-year and 2% quarter-over-quarter

Marketing services revenue

US$15 million

Q3 2026; up 10% year-over-year and down 2% quarter-over-quarter

Online game revenue

US$114 million

Q3 2026; down 30% year-over-year and 2% quarter-over-quarter

GAAP net loss

US$15 million

Q3 2026; compared with net income of US$9 million in Q3 2025 and US$0.2 million in Q2 2026

ADS repurchases

10.1 million ADSs for approximately US$134 million

Cumulative repurchases under the previously announced program as of November 5, 2026

Marketing services revenue outlook

US$13 million to US$14 million

Q4 2026 estimate; annual decrease of 18% to 24% and sequential decrease of 6% to 13%

Online game revenue outlook

US$111 million to US$121 million

Q4 2026 estimate; annual change from a decrease of 8% to an increase of 1%

Net loss outlook

US$17 million to US$27 million

Q4 2026 GAAP and non-GAAP estimate

Previous Earnings Reports

1 past event · Latest: Aug 10

Same Type 1 event

1. Aug 10

   Q2 earnings report

   24h Move

   +5.3%

   Q2 guidance set Q3 revenue and net-loss ranges, providing terms to compare with reported Q3 results.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

gaap, non-gaap, uncertain tax positions, share-based compensation

4 terms

gaap financial

"GAAP net loss attributable to Sohu.com Limited was US$15 million"

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

View in glossary

non-gaap financial

"Non-GAAP net loss attributable to Sohu.com Limited was US$15 million"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

uncertain tax positions financial

"due to a reversal of uncertain tax positions"

A tax return line or claim for which a company cannot be certain the tax authority will agree, so the company records an estimate of the potential additional tax, interest, and penalties it might owe. Think of it like a disputed bill: management judges the chance and size of a payment and books a liability for the portion it expects to be required, which matters to investors because it can change reported profits, cash needs, and the company's financial risk profile.

share-based compensation financial

"Non-GAAP results exclude share-based compensation expense."

Share-based compensation is when a company pays employees, executives or directors with its own stock or rights to buy stock instead of, or in addition to, cash. Think of it like receiving store gift cards instead of extra paycheck — it can motivate staff to boost the company’s value, but it also increases the number of shares outstanding and can shrink each existing owner’s slice of profits and voting power. Investors watch it because it affects reported earnings, share count and the alignment between management and shareholders.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BEIJING, Nov. 9, 2026 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), a leading Chinese online media platform and game business group, today reported unaudited financial results for the third quarter ended September 30, 2026.

Third Quarter Highlights^[1]

• Total revenues were US$133 million, down 26% year-over-year and 2% quarter-over-quarter.
• Marketing services revenues were US$15 million, up 10% year-over-year and down 2% quarter-over-quarter.
• Online game revenues were US$114 million, down 30% year-over-year and 2% quarter-over-quarter.
• GAAP net loss attributable to Sohu.com Limited was US$15 million, compared with net income of US$9 million in the third quarter of 2025 and net income of US$0.2 million in the second quarter of 2026.
• Non-GAAP^[2] net loss attributable to Sohu.com Limited was US$15 million, compared with net income of US$9 million in the third quarter of 2025 and net income of US$0.5 million in the second quarter of 2026.

Dr. Charles Zhang, Chairman and CEO of Sohu.com Limited, commented, "In the third quarter of 2026, our marketing services revenues hit the high end of our guidance, while both our online game revenues and our bottom-line performance were in line with our expectations. For the Sohu social media platform, we continued to strengthen its social features through numerous iconic events, fostering genuine connections among users and boosting active user interactions across multiple verticals. We also kept leveraging our integrated product matrix with innovative and customized marketing solutions to unlock monetization potential. For our online games, we continued to introduce fresh content to sustain player interest while offering tailored gameplay experiences to meet evolving player needs."

Third Quarter Financial Results

Revenues

Total revenues were US$133 million, down 26% year-over-year and 2% quarter-over-quarter.

Marketing services revenues were US$15 million, up 10% year-over-year and down 2% quarter-over-quarter.

Online game revenues were US$114 million, down 30% year-over-year and 2% quarter-over-quarter.

Cost of Revenues

Both GAAP and non-GAAP total cost of revenues were US$32 million, down 9% year-over-year and up 9% quarter-over-quarter.

Both GAAP and non-GAAP cost of marketing services revenues were US$15 million, up 23% year-over-year and 11% quarter-over-quarter.

Both GAAP and non-GAAP cost of online game revenues were US$14 million, down 33% year-over-year and up 2% quarter-over-quarter.

[1] Changyou's wholly-owned subsidiary Shanghai Jingmao Culture Communication Co., Ltd. ("Shanghai Jingmao"), which operated Changyou's cinema advertising business, ceased operations and commenced bankruptcy proceedings during the third quarter of 2019. During the third quarter of 2023, Shanghai Jingmao's bankruptcy proceedings were concluded by a Chinese mainland bankruptcy court, and the Company accordingly recognized a disposal gain within discontinued operations in the condensed consolidated statements of operations. During the second quarter of 2026, as a result of the Company's receipt of a further distribution of Shanghai Jingmao's insolvent assets, the Company recognized an additional disposal gain of US$1 million within discontinued operations in the condensed consolidated statements of operations. Unless indicated otherwise, results presented in this press release are related to continuing operations only and exclude the disposal gain mentioned above.

[2] Non-GAAP results exclude share-based compensation expense. Explanation of the Company's non-GAAP financial measures and related reconciliations to GAAP financial measures are included in the accompanying "Non-GAAP Disclosure" and "Reconciliations of Non-GAAP Results of Operation Measures to the Nearest Comparable GAAP Measures."

Operating Expenses 

Both GAAP and non-GAAP operating expenses were US$120 million, down 9% year-over-year and 4% quarter-over-quarter.

Operating Profit/(Loss)

Both GAAP and non-GAAP operating losses were US$18 million, compared with operating profit of US$14 million in the third quarter of 2025 and an operating loss of US$18 million in the second quarter of 2026.

Income Tax Expense/(Benefit)

Both GAAP and non-GAAP income tax expenses were US$4 million, compared with income tax expense of US$17 million in the third quarter of 2025 and income tax benefit of US$7 million in the second quarter of 2026. For the second quarter of 2026, income tax benefit included reversal of a tax expense of approximately US$13 million due to a reversal of uncertain tax positions.

Net Income/(Loss)

GAAP net loss attributable to Sohu.com Limited was US$15 million, or a net loss of US$0.60 per fully-diluted American depositary share ("ADS," each ADS representing one Sohu ordinary share), compared with net income of US$9 million in the third quarter of 2025 and net income of US$0.2 million in the second quarter of 2026.

Non-GAAP net loss attributable to Sohu.com Limited was US$15 million, or a net loss of US$0.59 per fully-diluted ADS, compared with net income of US$9 million in the third quarter of 2025 and net income of US$0.5 million in the second quarter of 2026.

Liquidity and Capital Resources

As of September 30, 2026, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.2 billion.

Supplementary Information for Changyou Results^[3]

Third Quarter 2026 Operating Results

• For PC games, total average monthly active user accounts^[4] (MAU) were 2.6 million, a decrease of 4% year-over-year and flat quarter-over-quarter. Total quarterly aggregate active paying accounts^[5] (APA) were 1.0 million, a decrease of 8% year-over-year and an increase of 4% quarter-over-quarter. The year-over-year decrease in APA was mainly due to the natural decline of Changyou's older games, including Tian Long Ba Bu ("TLBB") PC, and to the natural decline of TLBB: Return, which was launched during the third quarter of 2025.
  
  
• For mobile games, total average MAU were 1.4 million, a decrease of 24% year-over-year and 16% quarter-over-quarter. Total quarterly APA were 0.2 million, a decrease of 25% year-over-year and 4% quarter-over-quarter. The year-over-year and quarter-over-quarter decreases in MAU and APA were mainly due to the natural decline of Changyou's older games.

Third Quarter 2026 Unaudited Financial Results

Total revenues were US$115 million, a decrease of 30% year-over-year and 2% quarter-over-quarter. Online game revenues were US$114 million, a decrease of 30% year-over-year and 2% quarter-over-quarter. For online game revenues, the year-over-year decrease was mainly due to a natural decline from a high comparison base driven by content updates released for TLBB PC and the launch of TLBB: Return in the third quarter of 2025.

Both GAAP and non-GAAP total cost of revenues were US$14 million, a decrease of 33% year-over-year and an increase of 2% quarter-over-quarter.

Both GAAP and non-GAAP operating expenses were US$42 million, a decrease of 23% year-over-year and 12% quarter-over-quarter. The year-over-year decrease was mainly due to a decrease in salary and benefits expenses, as well as a decrease in marketing and promotional spending for our online games. The quarter-over-quarter decrease was mainly due to a decrease in licensing fees related to product development.

GAAP operating profit was US$58 million, compared with US$87 million for the third quarter of 2025 and US$55 million for the second quarter of 2026.             

Non-GAAP operating profit was US$59 million, compared with US$88 million for the third quarter of 2025 and US$56 million for the second quarter of 2026.

[3] "Changyou Results" consist of the results of Changyou's online game business and its 17173.com Website.

[4] Monthly active user accounts refers to the number of registered accounts that are logged in to these games at least once during the month.

[5] Quarterly aggregate active paying accounts refers to the number of accounts from which game points are utilized at least once during the quarter.

Recent Development

Under the previously-announced share repurchase program of up to US$150 million of the outstanding ADSs, Sohu had repurchased 10.1 million ADSs for an aggregate cost of approximately US$134 million as of November 5, 2026.

Business Outlook

For the fourth quarter of 2026, Sohu estimates:

• Marketing services revenues to be between US$13 million and US$14 million; this implies an annual decrease of 18% to 24%, and a sequential decrease of 6% to 13%.
• Online game revenues to be between US$111 million and US$121 million; this implies an annual decrease of 8% to an annual increase of 1%, and a sequential decrease of 3% to a sequential increase of 6%.
• Both non-GAAP and GAAP net loss attributable to Sohu.com Limited to be between US$17 million and US$27 million.

For the fourth quarter 2026 guidance, the Company has adopted a presumed exchange rate of RMB6.73=US$1.00, as compared with the actual exchange rate of approximately RMB7.08=US$1.00 for the fourth quarter of 2025, and RMB6.78=US$1.00 for the third quarter of 2026.

This forecast reflects Sohu's management's current and preliminary view, which is subject to substantial uncertainty.

Non-GAAP Disclosure

To supplement the unaudited consolidated financial statements presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), Sohu's management uses non-GAAP measures of operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited and diluted net income/(loss) attributable to Sohu.com Limited per ADS, which are adjusted from results based on GAAP to exclude the impact of share-based compensation expense. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.

Sohu's management believes excluding share-based compensation expense from the Company's non-GAAP financial measures is useful for itself and investors. Further, the impact of share-based compensation expense could not be anticipated by management and business line leaders, and these expenses were not built into the annual budgets and quarterly forecasts that have been the basis for information Sohu provides to analysts and investors as guidance for future operating performance. As share-based compensation expense does not involve subsequent cash outflow and is not reflected in the cash flows at the equity transaction level, Sohu does not factor in its impact when evaluating and approving expenditures or when determining the allocation of its resources to its business segments. As a result, in general, the monthly financial results for internal reporting and any performance measures for commissions and bonuses are based on non-GAAP financial measures that exclude share-based compensation expense.

The non-GAAP financial measures are provided to enhance investors' overall understanding of Sohu's current financial performance and prospects for the future. A limitation of using non-GAAP operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited, and diluted net income/(loss) attributable to Sohu.com Limited per ADS excluding share-based compensation expense is that this expense has been and can be expected to continue to recur in Sohu's business. In order to mitigate these limitations Sohu has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between the GAAP financial measures that are most directly comparable to the non-GAAP financial measures that have been presented.

Notes to Financial Information

Financial information in this press release other than the information indicated as being non-GAAP is derived from Sohu's unaudited financial statements prepared in accordance with GAAP.

Safe Harbor Statement

This announcement contains forward-looking statements. It is currently expected that the Business Outlook will not be updated until release of Sohu's next quarterly earnings announcement; however, Sohu reserves right to update its Business Outlook at any time for any reason. Statements that are not historical facts, including statements about Sohu's beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, instability in global financial and credit markets and its potential impact on the Chinese economy; exchange rate fluctuations, including their potential impact on the Chinese economy and on Sohu's reported U.S. dollar results; fluctuations in Sohu's quarterly operating results; the possibilities that Sohu will be unable to recoup its investment in content and will be unable to develop a series of successful games for mobile platforms or successfully monetize mobile games it develops or acquires; and Sohu's reliance on marketing services offerings and online games for its revenues. Further information regarding these and other risks is included in Sohu's annual report on Form 20-F for the year ended December 31, 2025, and other filings with and information furnished to the U.S. Securities and Exchange Commission.

Conference Call and Webcast

Sohu's management team will host a conference call at 7:30 a.m. U.S. Eastern Time, November 9, 2026 (8:30 p.m. Beijing/Hong Kong time, November 9, 2026) following the quarterly results announcement. Participants can register for the conference call by clicking here, which will lead them to the conference registration website. Upon registration, participants will receive details for the conference call, including the dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

The live Webcast and archive of the conference call will be available on the Investor Relations section of Sohu's website at https://investors.sohu.com/.

About Sohu

Sohu.com Limited (NASDAQ: SOHU) was established by Dr. Charles Zhang, one of China's internet pioneers, in the 1990s. Sohu operates one of the leading Chinese online media platforms and also engages in the online game business in the Chinese mainland. Sohu has built one of the most comprehensive matrices of Chinese language web properties, consisting of Sohu News App, Sohu Video App, the mobile portal m.sohu.com, the PC portal www.sohu.com, and the online games platform www.changyou.com/en/.

As a mainstream media platform with social features, Sohu is indispensable to the daily life of millions of Chinese, providing to a vast number of users a network of web properties and community based products, which offer a broad array of content, such as news and information, in the form of text, picture, video, and live broadcasting. Sohu also attracts users to actively engage in content generation and distribution, and actively interact with each other on the platform. Sohu's online game business is conducted by its subsidiary Changyou, which develops and operates a diverse portfolio of PC and mobile games, such as the well-known TLBB PC and Legacy TLBB Mobile.

For investor and media inquiries, please contact:

Sohu.com Limited
Ms. Pu Huang
Tel: +86 (10) 6272-6645
E-mail: ir@contact.sohu.com

Christensen Advisory 
E-mail: sohu@christensencomms.com

 

SOHU.COM LIMITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
		Three Months Ended
		Sep. 30, 2026		Jun. 30, 2026		Sep. 30, 2025
Revenues:
Marketing services	$	14,888	$	15,179	$	13,596
Online games		113,872		116,171		162,036
Others		4,483		4,190		4,529
Total revenues		133,243		135,540		180,161
Cost of revenues:
Marketing services		14,914		13,400		12,172
Online games		14,119		13,829		21,177
Others		2,531		1,727		1,517
Total cost of revenues		31,564		28,956		34,866
Operating expenses:
Product development		63,636		68,894		61,820
Sales and marketing (includes share-based compensation expense of nil, $nil, and $4, respectively)		43,715		43,801		49,699
General and administrative (includes share-based compensation expense of $207, $296, and $426, respectively)		12,608		12,188		20,196
Total operating expenses		119,959		124,883		131,715
Operating profit/(loss)		(18,280)		(18,299)		13,580
Other income, net		3,127		7,166		5,145
Interest income		5,486		5,718		7,140
Exchange difference		(585)		(1,224)		(563)
Income/(loss) before income tax expense		(10,252)		(6,639)		25,302
Income tax expense/(benefit)[6]		4,493		(6,874)		16,636
Net income/(loss) from continuing operations		(14,745)		235		8,666
Net income from discontinued operations[7]		-		734		-
Net income/(loss)		(14,745)		969		8,666
Less: Net income from continuing operations attributable to the noncontrolling interest shareholders		1		-		-
Net income/(loss) from continuing operations attributable to Sohu.com Limited		(14,746)		235		8,666
Net income from discontinued operations attributable to Sohu.com Limited		-		734		-
Net income/(loss) attributable to Sohu.com Limited		(14,746)		969		8,666
Basic net income/(loss) from continuing operations per share/ADS attributable to Sohu.com Limited	$	(0.60)	$	0.01	$	0.32
Basic net income from discontinued operations per share/ADS attributable to Sohu.com Limited	$	-	$	0.03	$	-
Basic net income/(loss) per share/ADS attributable to Sohu.com Limited	$	(0.60)	$	0.04	$	0.32
Shares/ADSs used in computing basic net income/(loss) per share/ADS attributable to Sohu.com Limited[8]		24,765		25,451		27,491
Diluted net income/(loss) from continuing operations per share/ADS attributable to Sohu.com Limited	$	(0.60)	$	0.01	$	0.32
Diluted net income from discontinued operations per share/ADS attributable to Sohu.com Limited	$	-	$	0.03	$	-
Diluted net income/(loss) per share/ADS attributable to Sohu.com Limited	$	(0.60)	$	0.04	$	0.32
Shares/ADSs used in computing diluted net income/(loss) per share/ADS attributable to Sohu.com Limited		24,765		25,451		27,491
[6]  For the second quarter of 2026, income tax benefit included reversal of a tax expense of approximately US$13 million due to a reversal of uncertain tax positions.
[7]  See footnote 1.
[8]  Each ADS represents one ordinary share.

 

 

SOHU.COM LIMITED
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED, IN THOUSANDS)
		As of Sep. 30, 2026		As of Dec. 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$	125,499	$	128,308
Short-term investments		698,463		702,372
Accounts receivable, net		38,829		43,335
Prepaid and other current assets		92,100		93,903
Total current assets		954,891		967,918
Fixed assets, net		248,798		246,263
Goodwill		10,257		10,257
Long-term investments, net		43,836		43,939
Intangible assets, net		2,971		4,692
Long-term time deposits		330,906		350,659
Other assets		11,362		12,325
Total assets	$	1,603,021	$	1,636,053
LIABILITIES
Current liabilities:
Accounts payable	$	35,154	$	36,215
Accrued liabilities		104,966		95,430
Receipts in advance and deferred revenue		56,374		54,878
Accrued salary and benefits		36,976		55,018
Taxes payables		12,320		15,571
Other short-term liabilities		74,993		76,601
Total current liabilities	$	320,783	$	333,713
Long-term other payables		3,609		2,896
Long-term tax liabilities		8,212		21,051
Other long-term liabilities		222		322
Total long-term liabilities	$	12,043	$	24,269
Total liabilities	$	332,826	$	357,982
SHAREHOLDERS' EQUITY:
Sohu.com Limited shareholders' equity		1,269,850		1,277,727
Noncontrolling interest		345		344
Total shareholders' equity	$	1,270,195	$	1,278,071
Total liabilities and shareholders' equity	$	1,603,021	$	1,636,053

 

 

SOHU.COM LIMITED
RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES
(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
		Three Months Ended Sep. 30, 2026						Three Months Ended Jun. 30, 2026						Three Months Ended Sep. 30, 2025
		GAAP		Non-GAAP Adjustment		Non-GAAP		GAAP		Non-GAAP Adjustment		Non-GAAP		GAAP		Non-GAAP Adjustment		Non-GAAP
Operating expenses	$	119,959	$	(207)	(a)  $	119,752	$	124,883	$	(296)	(a)  $	124,587	$	131,715	$	(430)	(a) $	131,285
Operating profit/(loss)	$	(18,280)	$	207	(a)  $	(18,073)	$	(18,299)	$	296	(a)  $	(18,003)	$	13,580	$	430	(a)  $	14,010
Income tax expense/(benefit)[9]	$	4,493	$	-	$	4,493	$	(6,874)	$	-	$	(6,874)	$	16,636	$	-	$	16,636
Net income/(loss) before non- controlling interest	$	(14,745)	$	207	(a)  $	(14,538)	$	235	$	296	(a)  $	531	$	8,666	$	430	(a)  $	9,096
Net income/(loss) from continuing operations attributable to Sohu.com Limited for diluted net income/(loss) per share/ADS	$	(14,746)	$	207	(a)  $	(14,539)	$	235	$	296	(a)  $	531	$	8,666	$	430	(a)  $	9,096
Net income from discontinued operations attributable to Sohu.com Limited for diluted net income per share/ADS[10]	$	-	$	-	$	-	$	734	$	-	$	734	$	-	$	-	$	-
Net income/(loss) attributable to Sohu.com Limited for diluted net income/(loss) per share/ADS	$	(14,746)	$	207	(a)  $	(14,539)	$	969	$	296	(a)  $	1,265	$	8,666	$	430	(a)  $	9,096
Diluted net income/(loss) from continuing operations per share/ADS attributable to Sohu.com Limited	$	(0.60)			$	(0.59)	$	0.01			$	0.02	$	0.32			$	0.33
Diluted net income from discontinued operations per share/ADS attributable to Sohu.com Limited	$	-			$	-	$	0.03			$	0.03	$	-			$	-
Diluted net income/(loss) per share/ADS attributable to Sohu.com Limited	$	(0.60)			$	(0.59)	$	0.04			$	0.05	$	0.32			$	0.33
Shares/ADSs used in computing diluted net income/(loss) per share/ADS attributable to Sohu.com Limited		24,765				24,765		25,451				25,451		27,491				27,491
Note:
(a) Share-based compensation expense
[9]  See footnote 6.
[10]  See footnote 1.

 

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SOURCE Sohu.com Limited

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Sohu's third-quarter 2026 revenue and earnings?

Sohu reported US$133 million revenue and a US$15 million GAAP net loss attributable to Sohu for the quarter ended September 30, 2026. Revenue fell 26% year-over-year and 2% quarter-over-quarter. The GAAP loss was US$0.60 per fully diluted American depositary share, with each share representing one ordinary share.

What is Sohu's fourth-quarter 2026 outlook?

Sohu expects marketing services revenue of US$13 million–US$14 million, online game revenue of US$111 million–US$121 million, and both GAAP and non-GAAP net loss attributable to Sohu of US$17 million–US$27 million. The outlook is management's current, preliminary view and is subject to substantial uncertainty.

Why did Sohu's online game revenue decline in the third quarter of 2026?

Sohu attributed the year-over-year decline mainly to a natural decline from a high comparison base created by TLBB PC content updates and the launch of TLBB: Return in the third quarter of 2025.

What exchange rate does Sohu use for its fourth-quarter 2026 guidance?

Sohu's fourth-quarter 2026 guidance assumes RMB6.73 per US$1.00. Actual exchange rates were approximately RMB7.08 per US$1.00 in the fourth quarter of 2025 and RMB6.78 per US$1.00 in the third quarter of 2026.

Why did Changyou's operating expenses fall in the third quarter of 2026?

Changyou attributed its year-over-year operating expense decline mainly to lower salary and benefits expenses and lower game marketing and promotional spending. The sequential decline mainly reflected lower licensing fees related to product development. Operating expenses were US$42 million, down 23% year-over-year and 12% quarter-over-quarter.