Sohu income drops due to fast-rising expenses
By Ding Yining |
August 7, 2012, Tuesday
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Print Edition
Print Edition
CHINA'S leading Internet portal and online game operator Sohu.com Inc said profit dropped 75 percent in the second quarter due to rising operation costs and marketing expenses.
Net income was down 75 percent from a year ago to US$11 million after deducting minority shareholders' interests, the company said in a stock exchange filing yesterday.
Sales rose 28.8 percent from a year earlier to US$256 million. Revenue was generated from online advertising, online gaming and other value-added service sales.
Operation costs increased 47.1 percent to US$113 million. The company has increased spending on online video content to attract viewers in order to catch up with rivals Tencent and iQiyi, Baidu's video arm.
Net income was down 75 percent from a year ago to US$11 million after deducting minority shareholders' interests, the company said in a stock exchange filing yesterday.
Sales rose 28.8 percent from a year earlier to US$256 million. Revenue was generated from online advertising, online gaming and other value-added service sales.
Operation costs increased 47.1 percent to US$113 million. The company has increased spending on online video content to attract viewers in order to catch up with rivals Tencent and iQiyi, Baidu's video arm.
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