Sohu pares losses in Q2 to US$45m
Print Edition
SOHU.COM Inc, an online news portal, said yesterday that it lost US$45 million in the latest quarter despite an 18 percent rise in revenue to US$400 million.
The loss for the three months ended on June 30 was lower than the US$69 million loss booked for the previous quarter, but down from an operating profit of US$64 million for the same period of last year.
Profits at China’s Internet companies have been squeezed by heavy spending to build a mobile presence as people shift to browsing via smartphones and tablet computers.
“For our news and video businesses, we made solid progress in mobile monetization as our large user base attracted a growing number of advertisers,” said Chairman Charles Zhang, adding that the firm’s Sogou search engine unit achieved profitability faster than expected.
Operating expenses rose 82 percent year on year to US$292 million due to a bigger marketing spend and larger workforce.
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