Sohu com Ltd (SOHU)

Sohu.com reports first-quarter loss as gaming revenue supports sales growth (SOHU)May 18, 2026 8:36 AM
IH Market News Sohu.com Limited (NASDAQ:SOHU) reported a first-quarter adjusted net loss on Monday, although total revenue increased year-over-year thanks to continued strength in its online gaming business. Revenue rises while company remains loss-making The Chinese online media and gaming group posted total revenue of $141 million for the first quarter, representing a 4% increase from $136 million in the same period last year.The company reported an adjusted net loss of $0.16 per American depositary share.Sohu’s adjusted net loss narrowed significantly to $4 million compared with a loss of $16 million recorded in the first quarter of 2025.Shares showed little movement in after-hours trading following the earnings release. Online gaming offsets weakness in marketing services Revenue from Sohu’s online gaming segment rose 6% year-over-year to $125 million.Meanwhile, marketing services revenue declined 8% to $13 million during the quarter.“In the first quarter of 2026, our marketing services revenues, online game revenues, and bottom-line performance all exceeded our previous guidance,” chairman and chief executive Dr. Charles Zhang said.“For our online games, we delivered another solid quarter, driven by a wealth of high-quality content and targeted operational refinements that resonated with our diverse player base.” Company issues second-quarter outlook For the second quarter of 2026, Sohu expects online gaming revenue to range between $104 million and $114 million, with a midpoint forecast of $109 million.The company projected marketing services revenue between $13 million and $14 million.Sohu also forecast both adjusted and GAAP net losses attributable to the company in a range of $15 million to $25 million for the second quarter. Cash reserves remain strong alongside share buybacks As of March 31, 2026, Sohu held approximately $1.2 billion in cash, cash equivalents, short-term investments and long-term time deposits.The company also continued repurchasing shares under its existing buyback program.As of May 13, 2026, Sohu had repurchased approximately 8.7 million ADSs for a total value of around $116 million.Sohu.com stock price Original: Sohu.com reports first-quarter loss as gaming revenue supports sales growth (SOHU)

SOHU.COM REPORTS FIRST QUARTER 2026 UNAUDITED FINANCIAL RESULTSMay 18, 2026 1:00 AM
PR Newswire (US) BEIJING, May 18, 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 first quarter ended March 31, 2026. First Quarter HighlightsTotal revenues were US$141 million, up 4% year-over-year and down 1% quarter-over-quarter.Marketing services revenues were US$13 million, down 8% year-over-year and 26% quarter-over-quarter.Online game revenues were US$125 million, up 6% year-over-year and 3% quarter-over-quarter.GAAP net loss attributable to Sohu.com Limited was US$4 million, compared with net income[1] of US$182 million in the first quarter of 2025 and net income[2] of US$223 million in the fourth quarter of 2025.Non-GAAP[3] net loss attributable to Sohu.com Limited was US$4 million, compared with a net loss of US$16 million in the first quarter of 2025 and net income[2] of US$261 million in the fourth quarter of 2025.[1] In the first quarter of 2025, due to the expiration during the quarter of the statutory period for the U.S. Internal Revenue Service to conduct an examination of the Company's filing in connection with a one-time transition tax (the "Toll Charge") imposed by the U.S. Tax Cuts and Jobs Act, the Company fully reversed a tax expense that it had recognized as an uncertain tax position in the fourth quarter of 2018 upon the Company's re-evaluation and adjustment of a tax expense initially recognized in the fourth quarter of 2017 with respect to the Toll Charge. This reversal resulted in recognition during the first quarter of 2025 of a previously unrecognized income tax benefit and reversal of related accrued interest in a total amount of approximately $199 million.[2] In the fourth quarter of 2025, due to a revision of the dividend policy for Changyou, previously accrued withholding income tax of approximately US$285 million was fully reversed.[3] Non-GAAP results exclude share-based compensation expense; impairment of goodwill; and the income tax benefit in connection with the Toll Charge and related accrued interest 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."Dr. Charles Zhang, Chairman and CEO of Sohu.com Limited, commented, "In the first quarter of 2026, our marketing services revenues, online game revenues, and bottom-line performance all exceeded our previous guidance. For the Sohu media platform, we continued to focus on promoting a healthy and vibrant atmosphere on our platform with a series of differentiated events. At the same time, we kept refining our products to cater to users' needs. Leveraging our unique events and brand influence, we were able to explore new monetization opportunities. For our online games, we delivered another solid quarter, driven by a wealth of high-quality content and targeted operational refinements that resonated with our diverse player base."First Quarter Financial ResultsRevenuesTotal revenues were US$141 million, up 4% year-over-year and down 1% quarter-over-quarter.Marketing services revenues were US$13 million, down 8% year-over-year and 26% quarter-over-quarter.Online game revenues were US$125 million, up 6% year-over-year and 3% quarter-over-quarter.Cost of RevenuesBoth GAAP and non-GAAP total cost of revenues were US$30 million, down 10% year-over-year and 15% quarter-over-quarter.Both GAAP and non-GAAP cost of marketing services revenues were US$13 million, up 2% year-over-year and down 21% quarter-over-quarter.Both GAAP and non-GAAP cost of online game revenues were US$16 million, down 12% year-over-year and 11% quarter-over-quarter.Operating Expenses GAAP operating expenses were US$118 million, down 3% year-over-year and 32% quarter-over-quarter. GAAP operating expenses for the fourth quarter of 2025 included a goodwill impairment charge of approximately US$37 million.Non-GAAP operating expenses were US$118 million, down 3% year-over-year and 13% quarter-over-quarter.Operating LossGAAP operating loss was US$7 million, compared with an operating loss of US$19 million in the first quarter of 2025 and an operating loss of US$66 million in the fourth quarter of 2025.Non-GAAP operating loss was US$6 million, compared with an operating loss of US$19 million in the first quarter of 2025 and an operating loss of US$29 million in the fourth quarter of 2025.Income Tax Expense/(Benefit)GAAP income tax expense was US$7 million, compared with income tax benefit of US$189 million in the first quarter of 2025 and income tax benefit of US$280 million in the fourth quarter of 2025. GAAP income tax benefit for the first quarter of 2025 included a reversal of a tax expense that had been recognized as an uncertain tax position in previous years, and related accrued interest expense, in a total amount of approximately $199 million. Non-GAAP income tax expense was US$7 million, compared with income tax expense of US$10 million in the first quarter of 2025 and income tax benefit of US$280 million in the fourth quarter of 2025. Both GAAP and non-GAAP income tax benefit for the fourth quarter of 2025 reflected the reversal in that quarter of previously accrued withholding income tax of approximately US$285 million, due to a revision of the dividend policy for Changyou.Net Income/(Loss)GAAP net loss attributable to Sohu.com Limited was US$4 million, or net loss of US$0.17 per fully-diluted American depositary share ("ADS," each ADS representing one Sohu ordinary share), compared with net income of US$182 million in the first quarter of 2025 and net income of US$223 million in the fourth quarter of 2025.Non-GAAP net loss attributable to Sohu.com Limited was US$4 million, or net loss of US$0.16 per fully-diluted ADS, compared with a net loss of US$16 million in the first quarter of 2025 and net income of US$261 million in the fourth quarter of 2025.Liquidity and Capital ResourcesAs of March 31, 2026, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.2 billion.Supplementary Information for Changyou Results[4]First Quarter 2026 Operating ResultsFor PC games, total average monthly active user accounts[5] (MAU) were 2.7 million, an increase of 17% year-over-year and a decrease of 2% quarter-over-quarter. Total quarterly aggregate active paying accounts[6] (APA) were 1.0 million, an increase of 7% year-over-year and a decrease of 4% quarter-over-quarter. The year-over-year increases in MAU and APA were mainly from Changyou's PC game Tian Long Ba Bu ("TLBB"): Return, which was launched during the third quarter of 2025.For mobile games, total average MAU were 1.7 million, a decrease of 20% year-over-year and 9% quarter-over-quarter. Total quarterly APA were 0.3 million, a decrease of 22% year-over-year and 12% quarter-over-quarter. The decreases in MAU and APA were mainly due to the natural decline of Changyou's older games.[4] "Changyou Results" consist of the results of Changyou's online game business and its 17173.com Website.[5] Monthly active user accounts refers to the number of registered accounts that are logged in to these games at least once during the month.[6] Quarterly aggregate active paying accounts refers to the number of accounts from which game points are utilized at least once during the quarter.First Quarter 2026 Unaudited Financial ResultsTotal revenues were US$125 million, an increase of 6% year-over-year and 3% quarter-over-quarter. Online game revenues were US$125 million, an increase of 6% year-over-year and 3% quarter-over-quarter.Both GAAP and non-GAAP total cost of revenues were US$16 million, a decrease of 15% year-over-year and 13% quarter-over-quarter.GAAP operating expenses were US$44 million, a decrease of 3% year-over-year and 24% quarter-over-quarter.Non-GAAP operating expenses were US$44 million, a decrease of 2% year-over-year and 24% quarter-over-quarter.GAAP operating profit was US$65 million, compared with US$54 million for the first quarter of 2025 and US$45 million for the fourth quarter of 2025.             Non-GAAP operating profit was US$66 million, compared with US$55 million for the first quarter of 2025 and US$45 million for the fourth quarter of 2025.Recent DevelopmentUnder the previously-announced share repurchase program of up to US$150 million of the outstanding ADSs, Sohu had repurchased 8.7 million ADSs for an aggregate cost of approximately US$116 million as of May 13, 2026.Business Outlook For the second quarter of 2026, Sohu estimates:Marketing services revenues to be between US$13 million and US$14 million; this implies an annual decrease of 10% to 17%, and a sequential increase of 4% to 11%.Online game revenues to be between US$104 million and US$114 million; this implies an annual decrease of 2% to an annual increase of 8%, and a sequential decrease of 8% to 17%.Both non-GAAP and GAAP net loss attributable to Sohu.com Limited to be between US$15 million and US$25 million.For the second quarter 2026 guidance, the Company has adopted a presumed exchange rate of RMB6.87=US$1.00, as compared with the actual exchange rate of approximately RMB7.19=US$1.00 for the second quarter of 2025, and RMB6.95=US$1.00 for the first 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 gross profit, 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; impairment of goodwill; and the income tax benefit in connection with the Toll Charge and related accrued interest 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; impairment of goodwill; and the income tax benefit in connection with the Toll Charge and related accrued interest expense from the Company's non-GAAP financial measures is useful for itself and investors. Further, the impact of share-based compensation expense; impairment of goodwill; and the income tax benefit in connection with the Toll Charge and related accrued interest 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, and impairment of goodwill do not involve subsequent cash outflow and are not reflected in the cash flows at the equity transaction level, Sohu does not factor in their 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, and impairment of goodwill, and also exclude the income tax benefit in connection with the Toll Charge and related accrued interest 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 gross profit, 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. It is also possible that impairments of goodwill will recur in the future. 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 InformationFinancial 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 5:00 a.m. U.S. Eastern Time, May 18, 2026 (5:00 p.m. Beijing/Hong Kong time, May 18, 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 LimitedMs. Pu Huang
Tel: +86 (10) 6272-6645
E-mail: ir@contact.sohu.comChristensen Advisory
E-mail: sohu@christensencomms.com  SOHU.COM LIMITEDCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)




Three Months Ended

Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025Revenues:





   Marketing services$12,560$17,027$13,725   Online games
124,567
120,361
117,347   Others
4,157
4,872
4,573Total revenues
141,284
142,260
135,645






Cost of revenues:





Marketing services
12,583
15,959
12,341Online games
15,899
17,947
18,136Others 
1,326
1,280
2,669Total cost of revenues
29,808
35,186
33,146






Operating expenses:





Product development
61,883
63,891
62,972Sales and marketing (includes share-based compensation expense of nil, $nil, and $1, respectively) 
42,850
45,159
45,586General and administrative (includes share-based compensation expense of $244, $324, and $391, respectively)
13,475
27,111
12,969Goodwill impairment[7]
-
36,955
-Total operating expenses
118,208
173,116
121,527






Operating loss
(6,732)
(66,042)
(19,028)






Other income, net
4,682
3,725
4,199Interest income
5,995
6,719
7,708Exchange difference
(1,318)
(908)
(119)Income/(loss) before income tax expense
2,627
(56,506)
(7,240)






Income tax expense/(benefit)[8]6,942
(279,791)
(189,391)Net income/(loss)
(4,315)
223,285
182,151






Less: Net loss attributable to the noncontrolling interest shareholders
-
-
(9)






Net income/(loss) attributable to Sohu.com Limited
(4,315)
223,285
182,160






Basic net income/(loss) per share/ADS attributable to Sohu.com Limited$(0.17)$8.38$6.07Shares/ADSs used in computing basic net income/(loss) per share/ADS attributable to Sohu.com Limited[9]
26,058
26,658
30,008






Diluted net income/(loss) per share/ADS attributable to Sohu.com Limited$(0.17)$8.38$6.07Shares/ADSs used in computing diluted net income/(loss) per share/ADS attributable to Sohu.com Limited
26,058
26,658
30,008














[7]  In the fourth quarter of 2025, the Company recognized a goodwill impairment loss of approximately US$37 million.[8]  See footnote 1 and footnote 2. [9]  Each ADS represents one ordinary share. SOHU.COM LIMITEDCONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED, IN THOUSANDS)








As of Mar. 31, 2026
As of Dec. 31, 2025ASSETS




Current assets:




           Cash and cash equivalents
$110,360$128,308           Short-term investments

698,136
702,372           Accounts receivable, net

41,787
43,335           Prepaid and other current assets 

98,815
93,903Total current assets

949,098
967,918Fixed assets, net

247,337
246,263Goodwill

10,257
10,257Long-term investments, net

44,244
43,939Intangible assets, net

3,797
4,692Long-term time deposits

357,900
350,659Other assets

12,027
12,325Total assets
$1,624,660$1,636,053





LIABILITIES 




Current liabilities:




           Accounts payable 
$38,991$36,215           Accrued liabilities

98,662
95,430           Receipts in advance and deferred revenue

50,087
54,878           Accrued salary and benefits

37,091
55,018           Taxes payables

20,371
15,571           Other short-term liabilities

75,954
76,601Total current liabilities
$321,156$333,713





Long-term other payables

3,199
2,896Long-term tax liabilities

21,363
21,051Other long-term liabilities

382
322Total long-term liabilities
$24,944$24,269                         Total liabilities
$346,100$357,982











SHAREHOLDERS' EQUITY:




          Sohu.com Limited shareholders' equity

1,278,216
1,277,727          Noncontrolling interest

344
344                     Total shareholders' equity
$1,278,560$1,278,071





Total liabilities and shareholders' equity  
$1,624,660$1,636,053 SOHU.COM LIMITEDRECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)























Three Months Ended Mar. 31, 2026
Three Months Ended Dec. 31, 2025
Three Months Ended Mar. 31, 2025

GAAP
Non-GAAP Adjustment

Non-GAAP
GAAP
Non-GAAP Adjustment

Non-GAAP
GAAP
Non-GAAP Adjustment

Non-GAAP

























(244)(a)




(324)(a)




(392)(a)





-





(36,955)(c)




-


Operating expenses$118,208$(244)
$117,964$173,116$(37,279)
$135,837$121,527$(392)
$121,135





















Operating loss$(6,732)$244(a)  $(6,488)$(66,042)$37,279(a,c)  $(28,763)$(19,028)$392(a)   $(18,636)





















Income tax expense/(benefit)[10]$6,942$-
$6,942$(279,791)$-
$(279,791)$(189,391)$199,018(b)   $9,627Net income/(loss) before non-controlling interest$(4,315)$244(a)  $(4,071)$223,285$37,279(a,c)  $260,564$182,151$(198,626)(a,b)  $(16,475)Net income/( loss) attributable to Sohu.com Limited for diluted net income/( loss) per share/ADS$(4,315)$244(a)  $(4,071)$223,285$37,279(a,c)  $260,564$182,160$(198,626)(a,b)  $(16,466)Diluted net income/( loss) per share/ADS attributable to Sohu.com Limited$(0.17)


$(0.16)$8.38


$9.77$6.07


$(0.55)Shares/ADSs used in computing diluted net income/( loss) per share/ADS attributable to Sohu.com Limited
26,058



26,058
26,658



26,658
30,008



30,008











































Note:




















(a) Share-based compensation expense(b) Reversal of the tax expense in connection with the Toll Charge and related accrued interest expense(c) Impairment of goodwill
[10] See footnote 1 and footnote 2.  View original content to download multimedia:https://www.prnewswire.com/news-releases/sohucom-reports-first-quarter-2026-unaudited-financial-results-302774377.htmlSOURCE Sohu.com Limited Original: SOHU.COM REPORTS FIRST QUARTER 2026 UNAUDITED FINANCIAL RESULTS

Sohu.com to Report First Quarter 2026 Financial Results on May 18, 2026May 8, 2026 1:00 AM
PR Newswire (US) BEIJING, May 8, 2026 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU), a leading Chinese online media platform and game business group, will report its first quarter 2026 unaudited financial results on Monday, May 18, 2026, before U.S. market hours. Sohu's management team will host a conference call on the same day at 5:00 a.m. U.S. Eastern Time, May 18, 2026 (5:00 p.m. Beijing/Hong Kong time, May 18, 2026) following the quarterly results announcement.Conference Call PreregistrationParticipants can register for the conference call by clicking here, you will be led to the conference registration website. Upon registration, each participant will receive details for the conference call, including 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 SohuSohu.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 Tian Long Ba Bu ("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.comChristensen Advisory 
E-mail:  sohu@christensencomms.com View original content to download multimedia:https://www.prnewswire.com/news-releases/sohucom-to-report-first-quarter-2026-financial-results-on-may-18-2026-302766598.htmlSOURCE Sohu.com Limited Original: Sohu.com to Report First Quarter 2026 Financial Results on May 18, 2026

Sohu.com Limited Announces its 2025 Annual Report on Form 20-F is Available on the Company's WebsiteMarch 12, 2026 6:33 AM
PR Newswire (US)

BEIJING, March 12, 2026  /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), a leading Chinese online media platform and game business group, announced that the Company today filed with the Securities and Exchange Commission its Annual Report on Form 20-F for the fiscal year ended December 31, 2025. The Annual Report is available on the Company's investor relations website at https://investors.sohu.com/. The Company will provide a hard copy of the Annual Report containing the audited consolidated financial statements of the Company, free of charge, to a shareholder or holder of the Company's American depositary shares upon written request.







About SohuSohu.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 Tian Long Ba Bu ("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.comChristensen Advisory
E-mail:  sohu@christensencomms.com   



View original content to download multimedia:https://www.prnewswire.com/news-releases/sohucom-limited-announces-its-2025-annual-report-on-form-20-f-is-available-on-the-companys-website-302712220.htmlSOURCE Sohu.com Limited

Original: Sohu.com Limited Announces its 2025 Annual Report on Form 20-F is Available on the Company's Website

SOHU.COM REPORTS FOURTH QUARTER AND FISCAL YEAR 2025 UNAUDITED FINANCIAL RESULTSFebruary 9, 2026 12:00 AM
PR Newswire (US)

BEIJING, Feb. 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 fourth quarter and fiscal year ended December 31, 2025.







Fourth Quarter HighlightsTotal revenues were US$142 million, up 6% year-over-year and down 21% quarter-over-quarter.Marketing services revenues were US$17 million, down 10% year-over-year and up 25% quarter-over-quarter.Online game revenues were US$120 million, up 10% year-over-year and down 26% quarter-over-quarter.After giving effect to the reversal of previously accrued withholding income tax of approximately US$285 million related to Changyou, GAAP net income attributable to Sohu.com Limited was US$223 million, compared with a net loss of US$21 million in the fourth quarter of 2024 and net income of US$9 million in the third quarter of 2025.After giving effect to the reversal of previously accrued withholding income tax of approximately US$285 million related to Changyou, non-GAAP[1] net income attributable to Sohu.com Limited was US$261 million, compared with a net loss of US$15 million in the fourth quarter of 2024 and net income of US$9 million in the third quarter of 2025.Fiscal Year 2025 HighlightsTotal revenues were US$584 million, down 2% compared with 2024. Marketing services revenues were US$60 million, down 18% compared with 2024. Online game revenues were US$506 million, up 1% compared with 2024.GAAP net income attributable to Sohu.com Limited was US$394 million, compared with a net loss of US$100 million in 2024.Non-GAAP net income attributable to Sohu.com Limited was US$234 million, compared with a net loss of US$83 million in 2024.Dr. Charles Zhang, Chairman and CEO of Sohu.com Limited, commented, "In the fourth quarter of 2025, our marketing services revenues exceeded our previous guidance, while our online game revenues were in line with our expectations. Our non-GAAP bottom-line performance, excluding the impact of the Changyou withholding income tax reversal, came in at the high end of our prior guidance. For the Sohu media platform, we continued to improve our products and algorithms to address user needs and enhance their experience across different scenarios. We continued to host a variety of innovative events, which generated abundant premium content, greatly promoted user engagement, and enabled us to capture more monetization opportunities. For our online games, we remained committed to long-term operational excellence and continued to deliver high-quality content updates and compelling experiences to our players."[1] Non-GAAP results exclude share-based compensation expense; changes in fair value recognized in the Company's consolidated statements of operations with respect to the Company's investments; impairment of goodwill; and the income tax benefit in connection with the one-time transition tax (the "Toll Charge") imposed by the U.S. Tax Cuts and Jobs Act and related accrued interest 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."Fourth Quarter Financial Results RevenuesTotal revenues were US$142 million, up 6% year-over-year and down 21% quarter-over-quarter.Marketing services revenues were US$17 million, down 10% year-over-year and up 25% quarter-over-quarter.Online game revenues were US$120 million, up 10% year-over-year and down 26% quarter-over-quarter.Gross MarginBoth GAAP and non-GAAP gross margin were 75%, compared with 73% in the fourth quarter of 2024 and 81% in the third quarter of 2025.Both GAAP and non-GAAP gross margin for the marketing services business were 6%, compared with 6% in the fourth quarter of 2024 and 10% in the third quarter of 2025.Both GAAP and non-GAAP gross margin for online games were 85%, compared with 83% in the fourth quarter of 2024 and 87% in the third quarter of 2025.Operating ExpensesGAAP operating expenses were US$173 million, up 41% year-over-year and 31% quarter-over-quarter. GAAP operating expenses for the fourth quarter of 2025 included a goodwill impairment charge of approximately US$37 million. Non-GAAP operating expenses were US$136 million, up 11% year-over-year and 3% quarter-over-quarter.Operating Profit/(Loss)GAAP operating loss was US$66 million, compared with an operating loss of US$25 million in the fourth quarter of 2024 and operating profit of US$14 million in the third quarter of 2025.Non-GAAP operating loss was US$29 million, compared with an operating loss of US$25 million in the fourth quarter of 2024 and operating profit of US$14 million in the third quarter of 2025.Income Tax Expense/(Benefit)GAAP income tax benefit was US$280 million, compared with income tax expense of US$14 million in the fourth quarter of 2024 and income tax expense of US$17 million in the third quarter of 2025. Non-GAAP income tax benefit was US$280 million, compared with income tax expense of US$10 million in the fourth quarter of 2024 and income tax expense of US$17 million in the third quarter of 2025. Due to a revision of the dividend policy for Changyou, previously accrued withholding income tax of approximately US$285 million was fully reversed in the fourth quarter of 2025.Net Income/(Loss)GAAP net income attributable to Sohu.com Limited was US$223 million, or net income of US$8.38 per fully-diluted American depositary share ("ADS," each ADS representing one Sohu ordinary share), compared with a net loss of US$21 million in the fourth quarter of 2024 and net income of US$9 million in the third quarter of 2025.Non-GAAP net income attributable to Sohu.com Limited was US$261 million, or net income of US$9.77 per fully-diluted ADS, compared with a net loss of US$15 million in the fourth quarter of 2024 and net income of US$9 million in the third quarter of 2025.Liquidity and Capital ResourcesAs of December 31, 2025, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.2 billion.Fiscal Year 2025 Financial ResultsRevenuesTotal revenues were US$584 million, down 2% compared with 2024. Marketing services revenues were US$60 million, down 18% compared with 2024. Online game revenues were US$506 million, up 1% compared with 2024.Gross MarginBoth GAAP and non-GAAP gross margin were 77%, compared with 72% in 2024.Both GAAP and non-GAAP gross margin for the marketing services business were 11%, compared with 9% in 2024.Both GAAP and non-GAAP gross margin for online games were 86%, compared with 82% in 2024.Operating Expenses GAAP operating expenses totaled US$547 million, up 1% compared with 2024.Non-GAAP operating expenses totaled US$508 million, down 6% compared with 2024.Operating LossGAAP operating loss was US$94 million, compared with an operating loss of US$109 million in 2024.Non-GAAP operating loss was US$55 million, compared with an operating loss of US$109 million in 2024.Income Tax Expense/(Benefit)GAAP income tax benefit was US$444 million, compared with income tax expense of US$52 million in 2024.Non-GAAP income tax benefit was US$245 million, compared with income tax expense of US$37 million in 2024.Net Income/(Loss)GAAP net income attributable to Sohu.com Limited was US$394 million, or net income of US$13.96 per fully-diluted ADS, compared with a net loss of US$100 million in 2024.Non-GAAP net income attributable to Sohu.com Limited was US$234 million, or net income of US$8.27 per fully-diluted ADS, compared with a net loss of US$83 million in 2024.Supplementary Information for Changyou Results[2]Fourth Quarter 2025 Operating ResultsFor PC games, total average monthly active user accounts[3] (MAU) were 2.8 million, an increase of 19% year-over-year and 4% quarter-over-quarter. Total quarterly aggregate active paying accounts[4] (APA) were 1.1 million, an increase of 8% year-over-year and a decrease of 3% quarter-over-quarter. The year-over-year increases in MAU and APA were mainly from Changyou's PC game Tian Long Ba Bu ("TLBB"): Return, which was launched during the third quarter of 2025.For mobile games, total average MAU were 1.9 million, a decrease of 27% year-over-year and an increase of 1% quarter-over-quarter. Total quarterly APA were 0.3 million, a decrease of 26% year-over-year and an increase of 1% quarter-over-quarter. The year-over-year decreases in MAU and APA were mainly due to the natural decline of several games launched by Changyou during the year of 2024.[2] "Changyou Results" consist of the results of Changyou's online game business and its 17173.com Website.[3] Monthly active user accounts refers to the number of registered accounts that are logged in to these games at least once during the month.[4] Quarterly aggregate active paying accounts refers to the number of accounts from which game points are utilized at least once during the quarter.Fourth Quarter 2025 Unaudited Financial ResultsTotal revenues were US$121 million, an increase of 9% year-over-year and a decrease of 26% quarter-over-quarter. Online game revenues were US$120 million, an increase of 10% year-over-year and a decrease of 26% quarter-over-quarter.Both GAAP and non-GAAP gross profit were US$103 million, compared with US$92 million for the fourth quarter of 2024 and US$141 million for the third quarter of 2025.GAAP operating expenses were US$58 million, an increase of 29% year-over-year and 6% quarter-over-quarter.Non-GAAP operating expenses were US$57 million, an increase of 29% year-over-year and 7% quarter-over-quarter. GAAP operating profit was US$45 million, compared with US$48 million for the fourth quarter of 2024 and US$87 million for the third quarter of 2025.Non-GAAP operating profit was US$45 million, compared with US$48 million for the fourth quarter of 2024 and US$88 million for the third quarter of 2025.Fiscal Year 2025 Unaudited Financial ResultsTotal revenues were US$509 million, an increase of 1% year-over-year. Online game revenues were US$506 million, an increase of 1% year-over-year.Both GAAP and non-GAAP gross profit were US$436 million, compared with US$415 million for 2024.GAAP operating expenses were US$199 million, a decrease of 9% year-over-year.Non-GAAP operating expenses were US$197 million, a decrease of 10% year-over-year.GAAP operating profit was US$237 million, compared with US$196 million for 2024.Non-GAAP operating profit was US$238 million, compared with US$196 million for 2024.Recent DevelopmentUnder the previously-announced share repurchase program of up to US$150 million of the outstanding ADSs, Sohu had repurchased 8.1 million ADSs for an aggregate cost of approximately US$106 million as of February 5, 2026.Business Outlook For the first quarter of 2026, Sohu estimates:Marketing services revenues to be between US$10 million and US$11 million; this implies an annual decrease of 20% to 27%, and a sequential decrease of 35% to 41%.Online game revenues to be between US$113 million and US$123 million; this implies an annual decrease of 4% to an annual increase of 5%, and a sequential decrease of 6% to a sequential increase of 2%. Both non-GAAP and GAAP net loss attributable to Sohu.com Limited to be between US$10 million and US$20 million.For the first quarter 2026 guidance, the Company has adopted a presumed exchange rate of RMB7.02=US$1.00, as compared with the actual exchange rate of approximately RMB7.18=US$1.00 for the first quarter of 2025, and RMB7.08=US$1.00 for the fourth quarter of 2025.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 gross profit, 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; changes in fair value recognized in the Company's consolidated statements of operations with respect to the Company's investments; impairment of goodwill; and the income tax benefit in connection with the Toll Charge and related accrued interest 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; changes in fair value recognized in the Company's consolidated statements of operations with respect to the Company's investments; impairment of goodwill; and the income tax benefit in connection with the Toll Charge and related accrued interest expense from the Company's non-GAAP financial measures is useful for itself and investors. Further, the impact of share-based compensation expense; changes in fair value recognized in the Company's consolidated statements of operations with respect to the Company's investments; impairment of goodwill; and the income tax benefit in connection with the Toll Charge and related accrued interest 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, changes in fair value recognized in the Company's consolidated statements of operations with respect to the Company's investments, and impairment of goodwill do not involve subsequent cash outflow and are not reflected in the cash flows at the equity transaction level, Sohu does not factor in their 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, changes in fair value recognized in the Company's consolidated statements of operations with respect to the Company's investments, and impairment of goodwill, and also exclude the income tax benefit in connection with the Toll Charge and related accrued interest 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 gross profit, 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. It is also possible that changes in fair value recognized in the Company's consolidated statements of operations with respect to the Company's investments and impairments of goodwill will recur in the future. 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 InformationFinancial 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 StatementThis 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, 2024, and other filings with and information furnished to the SEC.Conference Call and Webcast Sohu's management team will host a conference call at 7:30 a.m. U.S. Eastern Time, February 9, 2026 (8:30 p.m. Beijing/Hong Kong time, February 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.comChristensen Advisory 
E-mail:  sohu@christensencomms.com SOHU.COM LIMITEDCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)









Three Months Ended

Twelve Months Ended

Dec. 31, 2025
Sep. 30, 2025
Dec. 31, 2024

Dec. 31, 2025
Dec. 31, 2024Revenues:










    Marketing services$17,027$13,596$18,865
$59,972$73,465    Online games
120,361
162,036
109,859

505,738
502,389    Others
4,872
4,529
5,960

18,623
22,545Total revenues
142,260
180,161
134,684

584,333
598,399











Cost of revenues:










Marketing services (includes share-based
compensation expense of nil, nil, nil, nil, and $1,
respectively) 
15,959
12,172
17,787

53,451
66,579Online games
17,947
21,177
18,133

71,804
88,495Others 
1,280
1,517
1,113

6,234
10,759Total cost of revenues
35,186
34,866
37,033

131,489
165,833











Gross profit
107,074
145,295
97,651

452,844
432,566











Operating expenses:










Product development (includes share-based
compensation expense of nil, nil, nil, nil, and $19,
respectively) 
63,891
61,820
61,584

247,507
255,233Sales and marketing (includes share-based
compensation expense of nil, $4, $-1, $6, and $22,
respectively) 
45,159
49,699
48,588

188,989
235,824General and administrative (includes share-based
compensation expense of $324, $426, $243, $1,493,
and $-72, respectively)
27,111
20,196
12,672

73,198
50,910Goodwill impairment[5]
36,955
-
-

36,955
-Total operating expenses
173,116
131,715
122,844

546,649
541,967











Operating profit/(loss)
(66,042)
13,580
(25,193)

(93,805)
(109,401)











Other income, net
3,725
5,145
8,448

16,550
22,144Interest income
6,719
7,140
8,632

29,137
38,625Exchange difference
(908)
(563)
1,240

(1,405)
464Income/(loss) before income tax expense
(56,506)
25,302
(6,873)

(49,523)
(48,168)











Income tax expense/(benefit)[6](279,791)
16,636
14,387

(443,609)
52,070Net income/(loss)
223,285
8,666
(21,260)

394,086
(100,238)











Less: Net income/(loss) attributable to the
noncontrolling interest shareholders
-
-
31

(9)
31











Net income/(loss) attributable to Sohu.com Limited
223,285
8,666
(21,291)

394,095
(100,269)











Basic net income/(loss) per share/ADS attributable to
Sohu.com Limited$8.38$0.32$(0.69)
$13.96$(3.13)Shares/ADSs used in computing basic net
income/(loss) per share/ADS attributable to Sohu.com
Limited[7]
26,658
27,491
30,799

28,234
32,009











Diluted net income/(loss) per share/ADS attributable to
Sohu.com Limited$8.38$0.32$(0.69)
$13.96$(3.13)Shares/ADSs used in computing diluted net
income/(loss) per share/ADS attributable to Sohu.com
Limited
26,658
27,491
30,799

28,234
32,009




























[5] In the fourth quarter of 2025, the Company recognized a goodwill impairment loss of approximately US$37 million.[6]  Due to a revision of the dividend policy for Changyou, previously accrued withholding income tax of approximately US$285 million was fully reversed in the fourth quarter of 2025.[7]  Each ADS represents one ordinary share.



 SOHU.COM LIMITED


CONDENSED CONSOLIDATED BALANCE SHEETS 


(UNAUDITED, IN THOUSANDS)












As of Dec. 31, 2025
As of Dec. 31, 2024


ASSETS






Current assets:






           Cash and cash equivalents$128,308$159,927


           Short-term investments
702,372
744,498


           Accounts receivable, net
43,335
53,762


           Prepaid and other current assets 
93,903
83,575


Total current assets
967,918
1,041,762


Fixed assets, net
246,263
252,860


Goodwill[8]
10,257
46,944


Long-term investments, net
43,939
43,120


Intangible assets, net
4,692
7,695


Long-term time deposits
350,659
331,290


Other assets
12,325
10,995


Total assets$1,636,053$1,734,666










LIABILITIES 






Current liabilities:






           Accounts payable $36,215$36,043


           Accrued liabilities
95,430
97,138


           Receipts in advance and deferred revenue
54,878
51,007


           Accrued salary and benefits
55,018
47,232


           Taxes payables
15,571
14,225


           Other short-term liabilities
76,601
76,322


Total current liabilities$333,713$321,967










Long-term other payables
2,896
2,807


Long-term tax liabilities[9]
21,051
485,545


Other long-term liabilities
322
1,659


Total long-term liabilities$24,269$490,011


                         Total liabilities$357,982$811,978


















SHAREHOLDERS' EQUITY:






          Sohu.com Limited shareholders' equity
1,277,727
922,335


          Noncontrolling interest
344
353


                     Total shareholders' equity$1,278,071$922,688










Total liabilities and shareholders' equity  $1,636,053$1,734,666













[8] See footnote 5.[9]  See footnote 6.


 SOHU.COM LIMITEDRECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)




















Three Months Ended Dec. 31, 2025
Three Months Ended Sep. 30, 2025
Three Months Ended Dec. 31, 2024

GAAP
Non-GAAP
Adjustment
Non-GAAP
GAAP
Non-GAAP
Adjustment
Non-GAAP
GAAP
Non-GAAP
Adjustment
Non-GAAP






















-(a)



-(a)



-(a)
Marketing services gross profit$1,068$-$1,068$1,424$-$1,424$1,078$-$1,078Marketing services gross margin
6 %


6 %
10 %


10 %
6 %


6 %






















-(a)



-(a)



-(a)
Online games gross profit $102,414$-$102,414$140,859$-$140,859$91,726$-$91,726Online games gross margin
85 %


85 %
87 %


87 %
83 %


83 %






















-(a)



-(a)



-(a)
Others gross profit $3,592$-$3,592$3,012$-$3,012$4,847$-$4,847Others gross margin
74 %


74 %
67 %


67 %
81 %


81 %






















-(a)



-(a)



-(a)
Gross profit$107,074$-$107,074$145,295$-$145,295$97,651$-$97,651Gross margin
75 %


75 %
81 %


81 %
73 %


73 %






















(324)(a)



(430)(a)



(242)(a)




(36,955)(d)



-




-

Operating expenses$173,116$(37,279)$135,837$131,715$(430)$131,285$122,844$(242)$122,602






















324(a)



430(a)



242(a)




36,955(d)



-




-

Operating profit/( loss)$(66,042)$37,279$(28,763)$13,580$430$14,010$(25,193)$242$(24,951)Operating margin
-46 %


-20 %
8 %


8 %
-19 %


-19 %


















Income tax expense/(benefit)[10]$(279,791)$-$(279,791)$16,636$-$16,636$14,387$(3,961)(c)$10,426






















324(a)



430(a)



242(a)




-




-




2,087(b)




-




-




3,961(c)




36,955(d)



-




-

Net income/(loss) before non-
controlling interest$223,285$37,279$260,564$8,666$430$9,096$(21,260)$6,290$(14,970)






















324(a)



430(a)



242(a)




-




-




2,087(b)




-




-




3,961(c)




36,955(d)



-




-

Net income/( loss) attributable to
Sohu.com Limited for diluted net
income/( loss) per share/ADS$223,285$37,279$260,564$8,666$430$9,096$(21,291)
6,290$(15,001)Diluted net income/( loss) per
share/ADS attributable to Sohu.com
Limited$8.38

$9.77$0.32

$0.33$(0.69)

$(0.49)Shares/ADSs used in computing
diluted net income/( loss) per
share/ADS attributable to Sohu.com
Limited
26,658


26,658
27,491


27,491
30,799


30,799





































Note:

















(a) Share-based compensation expense(b) Change in the fair value of the Company's investments(c) Accrued interest expense in connection with the Toll Charge













(d) Impairment of goodwill
[10]  See footnote 6. SOHU.COM LIMITED





RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATION MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES





(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)


























Twelve Months Ended Dec. 31, 2025
Twelve Months Ended Dec. 31, 2024







GAAP
Non-GAAP
Adjustments
Non-GAAP
GAAP
Non-GAAP
Adjustments
Non-GAAP




























-(a)



1(a)






Marketing services gross profit$6,521$-$6,521$6,886$1$6,887





Marketing services gross margin
11 %


11 %
9 %


9 %




























-(a)



-(a)






Online games gross profit$433,934$-$433,934$413,894$-$413,894





Online games gross margin
86 %


86 %
82 %


82 %




























-(a)



-(a)






Others gross profit $12,389$-$12,389$11,786$-$11,786





Others gross margin
67 %


67 %
52 %


52 %




























-(a)



1(a)






Gross profit$452,844$-$452,844$432,566$1$432,567





Gross margin
77 %


77 %
72 %


72 %




























(1,499)(a)



31(a)










(36,955)(d)



-







Operating expenses$546,649$(38,454)$508,195$541,967$31$541,998




























1,499(a)



(30)(a)










36,955(d)



-







Operating loss$(93,805)$38,454$(55,351)$(109,401)$(30)$(109,431)





Operating margin
-16 %


-9 %
-18 %


-18 %
























Income tax expense/(benefit)$(443,609)$199,018(c)$(244,591)$52,070$(15,299)(c)$36,771















































1,499(a)



(30)(a)










-




1,820(b)










(199,018)(c)



15,299(c)










36,955(d)



-







Net income/(loss) before non-
controlling interest$394,086
(160,564)$233,522$(100,238)
17,089$(83,149)















































1,499(a)



(30)(a)










-




1,820(b)










(199,018)(c)



15,299(c)










36,955(d)



-







Net income/(loss) attributable to
Sohu.com Limited for diluted net
income/( loss) per share/ADS$394,095
(160,564)$233,531$(100,269)
17,089$(83,180)





Diluted net income/(loss) per
share/ADS attributable to Sohu.com
Limited. $13.96

$8.27$(3.13)

$(2.60)





Share/ADS used in computing diluted
net income/(loss) per share/ADS
attributable to Sohu.com Limited 
28,234


28,234
32,009


32,009
























Note:

















(a) Share-based compensation expense(b) Change in the fair value of the Company's investments(c) Reversal of the tax expense in connection with the Toll Charge and related accrued interest expense




(d) Impairment of goodwill


















  



View original content to download multimedia:https://www.prnewswire.com/news-releases/sohucom-reports-fourth-quarter-and-fiscal-year-2025-unaudited-financial-results-302682249.htmlSOURCE Sohu.com Limited

Original: SOHU.COM REPORTS FOURTH QUARTER AND FISCAL YEAR 2025 UNAUDITED FINANCIAL RESULTS

Sohu.com to Report Fourth Quarter and Fiscal Year 2025 Financial Results on February 9, 2026January 30, 2026 12:00 AM
PR Newswire (US)

BEIJING, Jan. 30, 2026 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU), a leading Chinese online media platform and game business group, will report its fourth quarter and fiscal year 2025 unaudited financial results on Monday, February 9, 2026, before U.S. market hours.







Sohu's management team will host a conference call on the same day at 7:30 a.m. U.S. Eastern Time, February 9, 2026 (8:30 p.m. Beijing/Hong Kong time, February 9, 2026) following the quarterly results announcement.Conference Call PreregistrationParticipants can register for the conference call by click here, you will be led to the conference registration website. Upon registration, each participant will receive details for the conference call, including 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 SohuSohu.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 games 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 be highly engaged in content generation and distribution, and actively interact with each other on the platform. Sohu's online games business is conducted by its subsidiary Changyou which develops and operates a diverse portfolio of PC and mobile games, such as the well-known Tian Long Ba Bu ("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.comChristensen Advisory 
E-mail:  sohu@christensencomms.com 



View original content to download multimedia:https://www.prnewswire.com/news-releases/sohucom-to-report-fourth-quarter-and-fiscal-year-2025-financial-results-on-february-9-2026-302674786.htmlSOURCE Sohu.com Limited

Original: Sohu.com to Report Fourth Quarter and Fiscal Year 2025 Financial Results on February 9, 2026

16

News: $SOHU Why Sohu.com Stock Jumped Today

Shares of  Sohu.com (NASDAQ: SOHU) were climbing today for the second day in a row after Chinese tech giant Tencent  (OTC: TCEHY) made an offer to buy its Sogou  (NYSE: SOGO)  search engine.  As a result, Sohu.com shares were up 9.1% as of 12:22 p.m. EDT on Tues...

Read the whole news SOHU - Why Sohu.com Stock Jumped Today

News: $SOHU Sohu.com Announces Receipt by its Subsidiary Sogou of a Preliminary Non-Binding Proposal to Acquire Sogou

BEIJING , July 27, 2020 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), China's leading online media, video, search and gaming business group, announced that today the board of directors of its subsidiary Sogou Inc. (NYSE: SOGO) ("Sogou") received a letter (th...

Find out more SOHU - Sohu.com Announces Receipt by its Subsidiary Sogou of a Preliminary Non-Binding Proposal to Acquire Sogou

News: $SOHU Sohu.com to Report Second Quarter 2020 Financial Results on August 10, 2020

BEIJING , July 27, 2020 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU), China's leading online media, video, search and gaming business group, will report its second quarter 2020 unaudited financial results on Monday, August 10 , 2020, before U.S. market hours...

Got this from SOHU - Sohu.com to Report Second Quarter 2020 Financial Results on August 10, 2020

Sohu.com $SOHU Signals Reversal, 30% Upside Near-Term

Shares of Sohu.com (SOHU) are moving higher today, following a beautiful, classic bottoming tail yesterday. Bottoming tails are significant bullish signals This reversal in trend is major for technical traders as the Chinese stock is trading at multi-year lows. While the chart sets up for a surge back to $17.35 in the near-term, traders are particularly intrigued by its total cash per share of $47.97. To state this clearly, the stock is trading at $13.50 while it has a total of $47.97 in cash per share. To put this another way, the market cap of Sohu.com is $530 million while it has $1.88 billion in cash. Based on these metrics alone, this stock is a screaming buy. Just in the near-term, I have an upside target of $17.50. Likely achieved within a month.


Sohu.com is a marketing/media company in China. Sentiment has gotten way too negative on this sector partly because of the China slowdown but also because of the on-going trade war. As most analyst will tell you, the trend war will likely be over before the US presidential election in 2020. In addition, the amount of stimulus thrown at the Chinese economy by the Chinese government has been huge. This will start to trickle down into business spending. At the current valuation, Sohu.com makes a ton of sense as a bottom play with significant upside potential.



Disclosure: Chief Market Strategist Gareth Soloway from InTheMoneyStocks.com owns shares of Sohu.com (SOHU).




Gareth Soloway
InTheMoneyStocks

12 +

News: $SOHU Sohu.com Reports First Quarter 2019 Unaudited Financial Results

BEIJING , April 29, 2019 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU), China's leading online media, video, search and gaming business group, today reported unaudited financial results for the first quarter ended March 31, 2019. First Q uarter Highlights Total rev...

Find out more https://marketwirenews.com/news-releases/sohu-com-reports-first-quarter-2019-unaudited-financial-results-8072832.html

News: $SOHU Sohu's Majority-Owned Subsidiary Changyou Announces Special Cash Dividend of US$9.40 per Changyou ADS

BEIJING , April 29, 2019 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU) ("Sohu"), China's leading online media, video, search and gaming business group, today reported that on April 29, 2019 , Changyou.com Limited (NASDAQ: CYOU) ("Changyou"), Sohu's majority-owned online game sub...

In case you are interested https://marketwirenews.com/news-releases/sohu-s-majority-owned-subsidiary-changyou-announces-special-cash-dividend-of-us-9-40-per-changyou-ads-8072828.html

On Watch: SOHU.com $SOHU Nearing Key Breakout Level

Shares of China company SOHU.com (SOHU) are consolidating in a bullish manner just underneath a major breakout level. Should the stock trade through the $38.00 breakout point, SOHU will likely surge as high as $44.00-$45.00. The backing off of trade war fears means Chinese ADR's are back in play for big money hedge funds. Just an added positive. Watch for the breakout and enjoy the swing trade.





Gareth Soloway
InTheMoneyStocks

Fundamentals imply Sohu .Com $SOHU is 23% undervalued w/ earnings expected Tuesday:

Fair Value Analysis

39

41

51

Don't follow SOHU

Like Alibaba and Tencent regardless of the recent weakness ...

U still like SOHU as well as tencent John?.. Big drops today - Chinese Internet comp's have been slaughtered. Shanghai Composite freefall aint helpin ;-/

Bloomberg: $3B+ IPO planned for Sohu/Tencent's Sogou search engine

Mar 20 2015, 12:20 ET By: Eric Jhonsa, SA News Editor

#3 Chinese search engine Sogou is planning an IPO that will feature a $3B+ valuation, Bloomberg reports. Sources add Sogou, which is controlled by Sohu (SOHU +3.7%), could see an offering in 2H15. Sogou has been easily outgrowing Sohu's portal and gaming ops: Its revenue rose 70% Y/Y in Q4 to $119M. It had an estimated 6.9% Q4 Chinese search share, trailing Baidu's (NASDAQ:BIDU) 74.4% and Qihoo's (NYSE:QIHU) 17.3%.

Tencent (OTCPK:TCEHY) bought a 40.9% stake in Sogou in 2013 for $516M, and has integrated Sogou's services with its wildly popular WeChat mobile messaging platform (recently hit 500M MAUs). Aside from search, Sogou's services include a Web directory, games, and popular Chinese-language typing software (Sogou Pinyin).

57

54

48

43

44

45

SOHU

SOHU: Q1 Adj EPS ($1.26) vs 60c Beats ($1.33) Est; Guidance In-Line with Consensus

Monday , April 28, 2014 07:22ET


QUARTER RESULTS
Sohu.com Incorporated (SOHU) reported Q1 results ended March 2014. Q1 Revenues were $365.00M; +18.66% vs yr-ago; MISSING revenue consensus by -0.25%. Q1 EPS was ($2.05). Adjusted Q1 EPS was ($1.26); -310.00% vs yr-ago; BEATING earnings consensus by +5.26%.
Q1 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $365.00M $307.60M +18.66% $365.92M -0.25%
---------- ------------ ------------ ---------- ------------ ----------
EPS: ($2.05) N/A N/A N/A N/A
Adj EPS: ($1.26) 60c -310.00% ($1.33) +5.26%
---------- ------------ ------------ ---------- ------------ ----------

GUIDANCE

Q2-14 Revenue Outlook [$397 - $411M]: The Q2-14 revenue forecast is in-line with current consensus estimates.

58.00

SOHU


Last Price $70.09

Today's Change +2.71 (4.02%)

Today's Volume 1,132,242 Above Avg (at time of post)

China Net Stocks Soar on 4G Approval

http://www.bloomberg.com/video/china-net-stocks-soar-on-4g-approval-hbZd0aXsT7~4HyF6FsXgQQ.html?cmpid=yhoo

Youku to Sohu Climb on Bets 4G License to Boost Mobile

http://www.bloomberg.com/news/2013-12-04/youku-to-sohu-climb-on-bets-4g-license-to-boost-mobile.html?cmpid=yhoo

Chinese stocks traded in New York rose, led by Youku Tudou Inc. (YOKU) and Sohu.com Inc. (SOHU), on prospects online content companies will benefit from the adoption of faster-speed wireless networks.

The Bloomberg China-US Equity Index of the most-traded Chinese shares in New York added 0.4 percent to 108.14. Online video operator Youku climbed to the highest in two weeks while web portal owner Sohu rose to a one-month high.

Barclays Upgrades SOHU to target $79

Last week's wider-than-expected quarterly loss for SOHU wasn't enough to keep Barclays from raising its price target on the stock to $79 from $73 ahead of the bell. On the charts, the equity has tacked on 40.4% year-to-date to linger near $66.46, but expectations remain low. At the ISE, CBOE, and PHLX, SOHU's 10-day put/call volume ratio of 1.06 ranks in the bearishly skewed 91st percentile of its annual range. Additionally, short interest rose 8.5% over the last two reporting periods, and now accounts for a healthy 6.9% of Sohu.com Inc's available float.

On Nov 1 Sohu.com Inc. reported earnings of 45 cents per share in the third quarter of 2013, which decreased 34.4% year over year and 19.1% on a sequential basis. Earnings including stock-based compensation comfortably beat the Zacks Consensus Estimate by a nickel.

Revenues

Revenues jumped 29.1% year over year and 8.7% sequentially to $368.3 million, towards the higher end of the management guided range of $358.0–$370.0 million. Revenues also surpassed the Zacks Consensus Estimate of $364.0 million. The year-over-year increase was primarily driven by strong performance from the online advertising and online gaming business.

Online advertising revenues surged 56.5% year over year and 21.0% sequentially to $177.1 million. The year-over-year growth was primarily driven by strong performance from online video, Sogou, search and brand advertising.

Sohu video continued to maintain its dominant position, driven by a content portfolio that includes American television drama series, Japanese animation series, domestic variety shows and in-house programs.

During the quarter, Sohu Video streamed The Voice of China, which attracted significant traffic. The superior content portfolio helped video advertising sales to triple on a year-over-year basis and was up 60.0% from the previous quarter.

Sohu achieved significant growth in the mobile video segment as traffic increased massively in the third quarter. To-date, total number of active users for Sohu’s mobile applications reached 140 million.

Sogou revenues continued to grow in the quarter, up 53.0% year over year and 14.0% quarter over quarter to $57.0 million. The Sogou pinyin mobile version added another 30 million new users as monthly active users reached 180 million.

Search and Others revenues jumped 48.2% from the year-ago quarter and 13.3% sequentially to $46.2 million.

Brand advertising revenues grew 60.2% from the year-ago quarter to $124.8 million and were close to the higher end of management’s guided range of $120.0 million to $125.0 million. Revenues increased 24.5% sequentially, within management’s guided range of 20.0% to 25.0% growth. Brand advertising continued to benefit from strong traffic driven by an improving online video business.

Sohu.com Inc : Sohu, Sogou and Tencent Jointly Announce Strategic Cooperation


09/16/2013 | 05:35am US/Eastern


BEIJING and SHENZHEN, Sept. 16, 2013 /PRNewswire/ -- Sohu.com Inc. ("Sohu", NASDAQ: SOHU), Sogou Inc. ("Sogou") and Tencent Holdings Limited ("Tencent", SEHK: 00700) jointly announced today the establishment of a strategic cooperation that will reinforce and strengthen Sogou as a leader in the large and fast-growing China market for search and internet services, particularly for the mobile platform.

To implement this strategic cooperation, Tencent has invested a net amount of US$448 million in cash in Sogou and merged its Soso search related businesses and certain other assets with Sogou. Immediately after the transaction, Tencent holds 36.5% of Sogou's equity capital on a fully-diluted basis, which could further increase to approximately 40% in the near future. Sohu, together with its affiliates, remains the controlling shareholder of Sogou, which will continue to operate independently as a subsidiary of Sohu. Dr. Charles Zhang, Sohu's Chairman and CEO, will remain as Chairman of Sogou. Mr. Martin Lau, President of Tencent, and Mr. Mark Ren, Chief Operating Officer of Tencent, have joined Sogou's Board of Directors. Mr. Wang Xiaochuan will continue to lead Sogou as a director and CEO.

Tencent and Sogou have agreed to jointly develop, cross-promote and integrate their respective products and services, while collaborating in areas of search technology, user insights and data sharing. Sogou's leading products, including Sogou Pinyin and Sogou Search, will have direct access to the vast user base of Tencent's online and mobile social communities.

"This partnership will immediately expand Sogou's market presence and significantly elevate its position in the highly competitive PC search market, and even more so in the rapidly evolving mobile search market," stated Dr. Charles Zhang, Chairman and CEO of Sohu. "Sogou remains a key strategic asset of the Sohu Group, generating synergies with our other businesses and creating significant value for Sohu shareholders."

"We are very excited about our combination with Soso and strategic partnership with Tencent. By accessing Tencent's strong innovation capabilities and deeply integrating with Tencent's core platform, Sogou will herald a new era of relentless innovation in the mobile world," said Mr. Wang Xiaochuan, CEO of Sogou. "For example, the optimization of Sogou Pinyin for Tencent's mobile IM services will deliver superior user experience, while the interaction between search and social network will bring a multitude of opportunities."

"We believe Sogou is the ideal partner for Tencent to further develop search opportunities within China. This reinforces our "open, win-win" philosophy of working with leading teams to create innovative products for users, and build a healthy, diversified ecosystem for the industry," said Mr. Ma Huateng, Chairman and CEO of Tencent. "We have high regard for Sogou's strong innovation capabilities and successful execution track record. We are confident that Sogou, after combination with Soso, will deliver superior search experiences to users on our social, browser and content platforms, especially on the mobile front."

Sogou has successfully executed a "Pinyin-Browser-Search" strategy and launched numerous innovative products that have gained popularity among users, including the No.1 Chinese character Pinyin input method on PC as measured by user base and on mobile devices as measured by user penetration, according to iResearch; the No.3 PC browser and No.3 PC search engine in China by page views, according to CNZZ.

The transaction signed and closed simultaneously on September 16, 2013. Credit Suisse acted as financial advisor to Sohu. Goldman Sachs acted as financial advisor to Tencent.

Interesting read on SOHU's today's earnings event.... nice results

http://www.earningsimpact.com/Transcript/82323/SOHU/Q2-2013-Earnings-Call

Sohu climbed 3.2 percent to $68.51 in New York, poised for the highest close since October 2011. The shares have surged 34 percent since the end of April.

http://www.bloomberg.com/news/2013-07-18/shanda-surges-on-new-mobile-game-as-sohu-rises-overnight.html?cmpid=yhoo

Chairman and Chief Executive Officer Charles Zhang said in a May 18 interview in Beijing that the company was seeking strategic investors for its Sogou search unit.

Acquisition Speculation
Sohu’s recent gains were stoked by speculation that Qihoo 360 Technology Co. (QIHU), owner of China’s second-biggest search engine, will acquire a controlling stake in Sogou, ABR Investment analyst Henry Guo wrote in a note yesterday.

“If a possible Qihoo/Sogou deal values Sogou at $1.2 billion or higher, a deal announcement could be a positive to Sohu shares,” he wrote.

Qihoo’s ADRs advanced 1.8 percent to a record $56.71. Sina Corp. (SINA), which runs a Twitter-like service in China, jumped 5.3 percent in a fourth day of gains to $63.35, the highest level since October. E-Commerce China Dangdang Inc. (DANG), the nation’s biggest online book retailer, advanced for a second day, rising 5.1 percent to a one-month high of $8.03.

LDK, the second-most indebted solar maker, added 4.7 percent to $1.77 in New York.

China will impose duties of between 2.4 percent and 57 percent on polysilicon, a raw material for making solar panels, imported from the U.S. and South Korea, according to a preliminary ruling posted on the Commerce Ministry’s website yesterday.

The Hang Seng China Enterprises Index in Hong Kong climbed 0.1 percent to a one-week high of 9,492.07, while the Shanghai Composite Index (SHCOMP) dropped 1.1 percent to 2,023.40, the lowest in a week.

SOHU: Q4 EPS 60c vs 65c Beats 53c Est

Monday , February 04, 2013 07:26ET

QUARTER RESULTS
Sohu.com Incorporated (SOHU) reported Q4 results ended December 2012. Q4 Revenues were $299.50M; +21.67% vs yr-ago; BEATING revenue consensus by +2.41%. Q4 EPS was 60c; -7.69% vs yr-ago; BEATING earnings consensus by +13.21%.

Q4 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $299.50M $246.15M +21.67% $292.46M +2.41%
---------- ------------ ------------ ---------- ------------ ----------
EPS: 60c 65c -7.69% 53c +13.21%
---------- ------------ ------------ ---------- ------------ ----------


YEAR-END RESULTS
Co. also reported Year-End results ended December 2012. FY Revenues were $1,067.20M; +25.24% vs yr-ago; BEATING revenue consensus by +0.96%. FY EPS was $2.03; -48.35% vs yr-ago; MISSING earnings consensus by -3.33%.

FY RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $1,067.20M $852.09M +25.24% $1,057.10M +0.96%
---------- ------------ ------------ ---------- ------------ ----------
EPS: $2.03 $3.93 -48.35% $2.10 -3.33%
---------- ------------ ------------ ---------- ------------ ----------

Sohu.com Reports Fourth Quarter and Fiscal Year 2012 Unaudited Financial Results

http://www.knobias.com/story.htm?eid=3.1.b8215717e9482f6c8a250d7da5595f48402779af336bf27893bd27fd68977030

SOHU: Q4 EPS 60c vs 65c Beats 53c Est

Monday , February 04, 2013 07:26ET

QUARTER RESULTS
Sohu.com Incorporated (SOHU) reported Q4 results ended December 2012. Q4 Revenues were $299.50M; +21.67% vs yr-ago; BEATING revenue consensus by +2.41%. Q4 EPS was 60c; -7.69% vs yr-ago; BEATING earnings consensus by +13.21%.

Q4 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $299.50M $246.15M +21.67% $292.46M +2.41%
---------- ------------ ------------ ---------- ------------ ----------
EPS: 60c 65c -7.69% 53c +13.21%
---------- ------------ ------------ ---------- ------------ ----------


YEAR-END RESULTS
Co. also reported Year-End results ended December 2012. FY Revenues were $1,067.20M; +25.24% vs yr-ago; BEATING revenue consensus by +0.96%. FY EPS was $2.03; -48.35% vs yr-ago; MISSING earnings consensus by -3.33%.

FY RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $1,067.20M $852.09M +25.24% $1,057.10M +0.96%
---------- ------------ ------------ ---------- ------------ ----------
EPS: $2.03 $3.93 -48.35% $2.10 -3.33%
---------- ------------ ------------ ---------- ------------ ----------

SOHU fin chart

Sohu.com: Buy One Get Three Free?

http://seekingalpha.com/article/1024721-sohu-com-buy-one-get-three-free?source=yahoo

Sohu.com Reports Third Quarter 2012 Unaudited Financial Results

Monday , November 05, 2012 00:35ET


BEIJING, Nov. 5, 2012 /PRNewswire/ -- Sohu.com Inc. (NASDAQ: SOHU), China's leading online media, search, gaming, community and mobile service group, today reported unaudited financial results for the third quarter ended September 30, 2012.


Third Quarter Highlights

-- Total revenues were US$285 million, up 23% year-over-year and 12%
quarter-over-quarter.
-- Brand advertising revenues were US$78 million, up 2% year-over-year and
12% quarter-over-quarter.
-- Sogou[1] revenues were US$37 million, up 102% year-over-year and 23%
quarter-over-quarter.
-- Online game revenues reached quarterly record high of US$151 million, up
30% year-over-year and 10% quarter-over-quarter.
-- GAAP net income attributable to Sohu.com Inc. was US$24 million, or
US$0.63 per fully diluted share. Non-GAAP net income attributable to
Sohu.com Inc. was US$30 million, or US$0.77 per fully diluted share.

Dr. Charles Zhang, Chairman and CEO of Sohu.com Inc. commented, "We are pleased with the solid financial results we achieved in the third quarter. Total revenues surpassed our expectations, rising 23% year-on-year. Brand advertising revenues met the high end of our guidance and online gaming revenues came in well ahead of our expectations."

Dr. Zhang added, "By business unit, for online video, our newly set-up dedicated sales team is bringing in results and we expect fourth quarter advertising revenue to be back on growth track. Sogou maintained triple-digit year-on-year revenue growth which was supported by improved monetization. For Changyou, strong performance by both MMO and web games helped post new records for both revenues and profit."

Ms. Belinda Wang, Co-President and COO added, "In the third quarter, thanks to solid demand from FMCG sector and the recovery of real estate sector, our brand advertising revenues reached the high end of our prior estimate. For the fourth quarter, although we see some weakening signals from the auto sector where Japanese car makers cut spending as a result of sharp decline in their sales volume, the impact is expected to be offset by the contribution from other sectors."

Third Quarter Financial Results

Revenues

Total revenues for the third quarter of 2012 were US$285 million, up 23% year-over-year and 12% quarter-over-quarter.

Total online advertising revenues, which include revenues from brand advertising and search and others businesses for the third quarter of 2012, were US$113 million, up 19% year-over-year and 15% quarter-over-quarter.

Brand advertising revenues for the third quarter of 2012 totaled US$78 million, up 2% year-over-year and 12% quarter-over-quarter.

Search and others revenues for the third quarter of 2012 were US$35 million, up 92% year-over-year and 23% quarter-over-quarter. The year-over-year increase was mainly due to increased traffic and improved monetization of traffic.

Online game revenues for the third quarter of 2012 were US$151 million, up 30% year-over-year and 10% quarter-over-quarter.

Wireless revenues for the third quarter of 2012 were US$14 million, up 1% year-over-year and down 8% quarter-over-quarter.

Gross Margin

Both GAAP and non-GAAP gross margin was 66% for the third quarter of 2012, compared with 61% in the second quarter of 2012 and 71% in the third quarter of 2011.

Online advertising gross margin for the third quarter of 2012 was 49%, compared with 32% in the second quarter of 2012 and 58% in the third quarter of 2011. Non-GAAP online advertising gross margin for the third quarter of 2012 was 50%, compared with 31% in the second quarter of 2012 and 58% in the third quarter of 2011.

Both GAAP and non-GAAP gross margin for brand advertising in the third quarter of 2012 was 52%, compared with 26% in the second quarter of 2012 and 61% in the third quarter of 2011. The year-over-year decrease in gross margin was primarily due to increases in content and bandwidth costs. The quarter-over-quarter increase in gross margin was primarily due to decrease in content costs. We recognized an approximately $15 million impairment charges of video content in the second quarter of 2012.

Both GAAP and non-GAAP gross margin for search and others business in the third quarter of 2012 were 44%, compared with 44% in the second quarter of 2012 and 49% in the third quarter of 2011. The year-over-year decrease in margin was mainly due to higher traffic acquisition costs.

Both GAAP and non-GAAP gross margin for online games in the third quarter of 2012 were 86%, compared with 87% in the second quarter of 2012 and 87% in the third quarter of 2011.

Both GAAP and non-GAAP gross margin for the wireless business for the third quarter of 2012 were 34%, compared with 35% in the second quarter of 2012 and 39% in the third quarter of 2011. The year-over-year decrease was primarily due to increased revenue sharing costs with partners.


Operating Expenses


For the third quarter of 2012, operating expenses totaled $125 million, up 36% year-over-year and 11% quarter-over-quarter. Non-GAAP operating expenses were $121 million, up 38% year-over-year and 14% quarter-over-quarter. The year-over-year increase was primarily due to an increase in the number of employees and higher salaries and benefits expense. The quarter-over-quarter increase was primarily due to an increase in the number of employees, higher salaries and benefits expense and higher marketing expense.

Operating Profit

Operating profit for the third quarter of 2012 was US$64 million, down 13% year-over-year and up 48% quarter-over-quarter. Operating margin was 22% for the third quarter of 2012, compared with 17% in the previous quarter and 32% in the third quarter of 2011.

Non-GAAP operating profit for the third quarter of 2012 was US$68 million, down 13% year-over-year and up 37% quarter-over-quarter. Non-GAAP operating margin was 24% for the third quarter of 2012, compared with 19% in the previous quarter and 33% in the third quarter of 2011.

Income Tax Expense

For the third quarter of 2012, GAAP income tax expense was US$19 million. Excluding a non-cash income tax expense of US$1 million recorded for the utilization of tax benefits from excess tax deductions related to share-based awards, non-GAAP income tax expense was US$18 million, flattish with the previous quarter.

Net Income

Before deducting the share of net income pertaining to the Non-controlling Interest, GAAP net income for the third quarter of 2012 was US$52 million, down 20% year-over-year and up 53% quarter-over-quarter. Non-GAAP net income for the third quarter of 2012 was US$59 million, down 15% year-over-year and up 43% quarter-over-quarter.

GAAP net income attributable to Sohu.com Inc. for the third quarter of 2012 was US$24 million, or US$0.63 per fully diluted share, down 47% year-over-year and up 123% quarter-over-quarter. Non-GAAP net income attributable to Sohu.com Inc. for the third quarter of 2012 was US$30 million, or US$0.77 per fully diluted share, down 40% year-over-year and up 80% quarter-over-quarter.

Cash Balance

As of September 30, 2012, Sohu Group had cash and cash equivalents of US$773 million, compared with US$733 million as of December 31, 2011.

Ms. Carol Yu, Co-President and CFO of Sohu.com Inc. commented, "Our strategic move of setting up a dedicated video sales team from early 2012 started to bear fruits. Our business units, including Sohu Video and Sogou, are making solid developments as the Group consistently and carefully grooms them. The encouraging progress validates our strategy that is to maximize long-term shareholder value."

Other development

On August 6, 2012, Changyou declared a special one-time cash dividend of $1.90 per Class A or Class B ordinary share, or $3.80 per ADS. The total amount of the special dividend declared was approximately $201 million. On September 21, 2012, Changyou paid the dividend to its shareholders. The amount of the dividend received by Sohu was approximately $136 million.


Supplementary Information for Online Game Results

Third Quarter 2012 Operational Results

-- Aggregate registered accounts for Changyou's games[2] , excluding
7Road's games, increased 41% year-over-year and 12% quarter-over-quarter
to 223.5 million.
-- Aggregate peak concurrent users ("PCU") for Changyou's games, excluding
7Road's games, decreased 5% year-over-year and increased 1%
quarter-over-quarter to 1.09 million.
-- Aggregate active paying accounts ("APA") for Changyou's games, excluding
7Road's games, decreased 20% year-over-year and 8% quarter-over-quarter
to 2.41 million. The quarter-over-quarter and year-over-year decreases
reflected a decline in the number of low-spending active paying accounts
that did not make a purchase in the third quarter of 2012 as Changyou
continued last quarter's strategy of giving away virtual items and
reducing in-game promotions in TLBB.
-- Average revenue per active paying account ("ARPU") for Changyou's games,
excluding 7Road's games, increased 46% year-over-year and 15%
quarter-over-quarter to RMB319.The quarter-over-quarter and
year-over-year increases were mainly due to the decline in TLBB's
low-spending active paying accounts and TLBB's core players increasing
their spending in the third quarter of 2012.

Business Outlook

For the fourth quarter of 2012, Sohu estimates:

-- Total revenues to be between US$288 million and US$293 million.
-- Brand advertising revenues to be between $80 million and $82 million;
this implies a sequential and annual increase of 3% to 5%.
-- Sogou revenues to be around US$40 million; this implies a sequential
increase of 7% and an annual growth of 74%.
-- Online game revenues to be between US$152 million and US$155 million.
This implies a sequential increase of 1% to 3% and represents an annual
growth of 23% to 26%.
-- Before deducting the share of non-GAAP net income pertaining to the
Non-Controlling interest, non-GAAP net income to be between US$48
million and US$51 million.
-- Non-GAAP net income attributable to Sohu.com Inc. to be between US$23
million and US$25 million, and non-GAAP fully diluted earnings per share
to be between US$0.60 and US$0.65.
-- Assuming no new grants of share-based awards, we estimate that
compensation expenses and income tax expenses relating to share-based
awards to be around US$3.5 million to US$4.5 million. The estimated
impact of this expense is expected to reduce Sohu's fully diluted
earnings per share for the fourth quarter of 2012 under US GAAP by 9 to
11 US cents.

Continued at:

http://www.knobias.com/story.htm?eid=3.1.7495978ecaf75079172cef5021101695aca6e0659797541e089e41d4ec173a6f

Sohu.com Option Players Cover Their Bases Before Earnings

By Schaeffer's Investment Research Nov 01, 2012 11:00 am

http://www.minyanville.com/trading-and-investing/options/articles/bidu-sohu-baidu-sohucom-tech-sector/11/1/2012/id/45474?camp=syndication&medium=portals&from=yahoo

SOHU calls were the options of choice leading into yesterday's session.

Beijing-based Internet issue Sohu.com Inc. (NASDAQ:SOHU) is scheduled to take its turn in the earnings confessional ahead of the bell next Monday. Option players have been accumulating calls in the weeks leading up to the event, per data at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). As of October 31,8.34 ranks higher than 93% of other such readings taken over the last year, indicating calls have been bought to open over puts at a near annual-high clip over the last two weeks.

This call-skewed trend has translated into a Schaeffer's put/call open interest ratio (SOIR) of 0.79 for the stock, which shows call open interest outweighs put open interest among options expiring in three months' time. Plus, although this ratio's ranking in the 46th percentile of its annual range indicates this preference for calls is hardly at an extreme, it does show that short-term speculators are slightly more call-heavy at the moment than usual.

It's more of a mixed bag outside of the options arena. For starters, short interest currently accounts for a lofty 10.4% of the stock's float, and it would take over two weeks to cover these shorted shares, at SOHU's average daily pace of trading.

Elsewhere, analysts are split, with five waving "strong buy" suggestions, and six maintaining middling "hold" recommendations. Meanwhile, the consensus 12-month price target of $52.37 not only represents a 37.7% premium to the stock's current perch, but also territory SOHU has not explored since late April.

Looking at SOHU's technical backdrop, the stock has had a dreary showing on the charts for some time. The equity has shed more than 45% on a year-over-year basis, and around 24% in 2012 alone. Plus, despite SOHU rebounding 12.7% since hitting an annual low of $33.75 on July 24, the equity is still staring at an overhead ceiling in the form of its 10-day moving average. This trendline has served as a stern layer of resistance since mid-September.

Given that SOHU jumped nearly 18% following its second-quarter earnings announcement in early August, the aforementioned uptick in call volume may simply be short sellers protecting their pessimistic positions in the case of history repeating itself. Wall Street is calling for a per-share profit of $0.46 in SOHU's third quarter.

In yesterday's session, though, puts emerged as the options of choice. As of the time of this writing yesterday, almost 3,000 put contracts had crossed the tape, representing nearly 11 times the average intraday pace for put options. By comparison, fewer than 300 call contracts had traded. This pickup in put volume comes as SOHU swoons in step with sector peer Baidu (NASDAQ:BIDU), who was hit with a slew of downgrades following its third-quarter earnings miss. At last check, SOHU was down roughly 1.4%.

SOHU 3Q earnings 11-05-12 BMO

Sohu.com to Report Third Quarter 2012 Financial Results on November 5, 2012

Press Release: Sohu.com Inc. – Mon, Oct 22, 2012 1:00 AM EDT.. .


BEIJING, Oct. 22, 2012 /PRNewswire/ -- Sohu.com Inc. (SOHU), China's leading online media, search, gaming, community and mobile service group, will report its third quarter 2012 unaudited financial results on Monday, November 5, 2012, before U.S. market hours.

Citi Starts Sohu.com (SOHU) at Buy

http://www.streetinsider.com/New+Coverage/Citi+Starts+Sohu.com+%28SOHU%29+at+Buy/7720440.html

Citi initiates coverage on Sohu.com (NASDAQ: SOHU) with a Buy and $63.70 price target.

UPDATE: Sohu.com (SOHU) Pops on Citron Research Mention

http://www.streetinsider.com/Trader+Talk/UPDATE%3A+Sohu.com+%28SOHU%29+Pops+on+Citron+Research+Mention/7684137.html

Sohu.com Inc. (Nasdaq: SOHU) sees upside after Citron Research said Qihoo's (Nasdaq: QIHU) entry into search puts SOHU "in play."

"At the level the market values SOHU today, and with today's business, it is Citron's opinion the company is worth more than 50% or more above its current share prices in the market."

Shares of SOHU are up 4.5%.

SOHU Open Gap @ 36.10

Open Gaps
Direction Date range
up Aug-06-2012 36.1 to 37.5

5 Tech Stocks Rising on Big Volume - views

Sohu.com

By Roberto Pedone
Senior Contributor
08/22/12 - 01:50 PM EDT

http://www.stockpickr.com/5-tech-stocks-rising-big-volume.html?puc=yahoo&cm_ven=YAHOO

Sohu.com (SOHU) is a Chinese online media, search, gaming, community and mobile service group. The company operates matrices of Chinese language Web properties, and it operates multi-player online games and Web-based games in the People’s Republic of China. This stock is trading up 5.4% at $41.99 in recent trading.

Today’s Volume: 799,000 (currently at 1.34m ~ eastunder)

Average Volume: 737,588 (I show 680,160 ~ eastunder)

Volume % Change: 66%

From a technical perspective, SOHU is ripping here right off its 50-day moving average of $39.33 with above average volume. This move is quickly pushing SOHU within range of triggering a near-term breakout trade. That trade will hit once SOHU clears some overhead resistance levels at $42.81 to $44.99 with high volume.

Traders should now look for long-biased trades in SOHU as long as its trending above its 50-day, and then once it sustains a move or close above those breakout levels with volume that’s near or above 737,588 shares. If that breakout triggers soon, then look for SOHU to re-test and possibly take out its 200-day moving average of $48.28 in the near future.


(Chart below? - Mine... so not in article)

Sohu Rallies on IPO Plans as Earnings Lift ADRs: China Overnight
By Belinda Cao - Aug 6, 2012 10:51 AM MT

http://www.bloomberg.com/news/2012-08-06/sohu-rallies-on-ipo-plans-as-earnings-lift-adrs-china-overnight.html?cmpid=yhoo

Sohu.com Inc. (SOHU), China’s fifth-most visited website, led gains in the nation’s Internet companies traded in New York, surging the most since October 2008 after saying its unit is planning an initial public offering.

The Bloomberg China-US Equity Index (CH55BN) of the most-traded Chinese companies in the U.S. rose 3.1 percent to 90.08 at 12:40 p.m. in New York, the most since May. Sohu and its online games unit Changyou.com Ltd. (CYOU) jumped 16 percent after announcing the U.S. IPO plans of a subsidiary. Social website operator Renren Inc. (RENN) gained the most in six months. Youku Inc. (YOKU) and Tudou Holdings Ltd. (TUDO) climbed more than 8 percent after saying their merger will be completed by the month’s end.

7Road.com Ltd., the online games company controlled by Changyou, plans to submit to the U.S. securities regulator a draft statement for a possible IPO, Sohu said in a statement yesterday. Changyou, which is 67 percent owned by Sohu, also announced it will pay shareholders a dividend of $3.8 for each share, after its 14 percent growth in second-quarter profit beat the average estimate of seven analysts surveyed by Bloomberg.

“What drives Sohu’s stock prices is really the growth in its games unit Changyou,” Henry Guo, an analyst at ThinkEquity Partners LLC, said by phone yesterday from San Francisco. “Changyou’s IPO plan for its web games unit and dividend payment indicate strong performance of the gaming business, and the parent company will benefit from it.”