Sohu Beats Revenue Forecast, But Remains In Loss

Sohu logo

Spurred by its directory and games businesses, and by surging video revenue, Sohu, the Chinese portal, games and search group, reported revenues up by a quarter in the first three months of the year. Losses stabilized.

“Total revenues reached $455 million, up 25% year-over-year, which exceeded the high end of our prior guidance by $15 million,” said Charles Zhang, chairman and CEO of Inc. “Sohu Video’s advertising revenues grew 57% year-over-year, mainly driven by faster mobile monetization.”

Non-GAAP net loss attributable to Inc. for the first quarter was US$25 million, compared with net loss of US$48 million in the first quarter of 2014 and a net loss of US$14 million in the fourth quarter of 2014.

Directory and search business Sogou saw revenues of US$116 million, up 66% year-over-year and down 3% quarter-over-quarter. Online game revenues were US$185 million, up 13% year-over-year and flat quarter-over-quarter.

The company’s Nasdaq-traded ADRs stood at US$67.9. That compares with $55.89 prior to its last announcement and with $43.09 in early November.

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