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Sohu reports net loss of US$20m in Q4

CHINESE news portal and online game operator Sohu reported lower than expected financial performance in the fourth quarter. 

Net loss in the three months ended December 31 was US$20 million, including an impairment charge of US$52 million, while revenue added 24 percent in the fourth quarter after online video advertising and search related income jumped in the past quarter.

Online advertising income added 20 percent due to an increase of sales revenue from its online video unit and real estate advertisers.

Charles Zhang, chief executive officer and chairman of Sohu, told an earnings conference that the company would reduce expenditure on high quality video content and focus on self-made variety shows and entertainment programs.

Elsewhere, NetEase said revenue jumped 42.5 percent in the fourth quarter to 3.68 billion yuan, and profit rose 8 percent to 1.2 billion yuan due to strong income increase in online gaming. Online gaming revenue added 36 percent to 2.86 billion yuan.


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