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August 1, 2017

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Sohu’s revenue gains 10%

INTERNET portal and game operator Sohu said yesterday revenue rose 10 percent from a year ago to US$461 million on mobile gaming sales. Online gaming sales surged 23 percent from a year ago to US$122 million, but brand advertising revenue declined 24 percent annually to US$86 million amid lackluster video ad and property ad sales. The company’s operating loss for the second quarter came to US$27 million.

Sohu’s online gaming unit’s monthly active user base more than tripled to 7.4 million while the total paying members in the quarter hit 2.5 million with the launch of a new mobile title Legacy TLBB in the second quarter.

Sogou Inc, an Internet service subsidiary of Sohu, plans to apply for an initial public offering in the US, the company said yesterday in a statement.

The IPO may “commence as early as market conditions permit” but the detailed timeline and financial figures were not available yesterday, said the statement.



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