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 Sohu.com Inc. “Sohu Video’s advertising revenues grew 57% year-over-year, mainly driven by faster mobile monetization.”
Non-GAAP net loss attributable to Sohu.com 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.