Sohu.com Ltd. (NASDAQ:SOHU) Q4 2021 Results Conference Call February 22, 2022 7:30 AM ET Company Participants Huang Pu - Director, IR Dr. Charles Zhang - Chairman & CEO Joanna Lv - CFO James Deng - Vice President, Finance Dewen Chen - CEO, Changyou Yaobin Wang - CFO, Changyou Conference Call Participants Thomas Chong - Jefferies Eddie Leung - Bank of America Merrill Lynch Alicia Yap - Citigroup Operator Ladies and gentlemen, thank you for standing by, and good evening. Thank you for joining Sohu's Fourth Qu ...

Sohu.com Ltd. (NASDAQ:SOHU) Q3 2021 Results Conference Call November 15, 2021 7:30 AM ET Company Participants Pu Huang - Director, IR Chaoyang Zhang - Chairman, CEO Joanna Lu - CFO Dewen Chen - CEO, Changyou Conference Call Participants Alicia Yap - Citigroup Alex Ko - Morgan Stanley Eddie Leung - Bank of America Thomas Chong - Jefferies Operator Ladies and gentlemen, thank you for standing by, and good evening. Thank you for joining Sohu's Third Quarter 2021 Earnings Conference Call. [Operator Instructions ...

Sohu.com Ltd (NASDAQ:SOHU) Q2 2021 Earnings Conference Call August 9, 2021 7:30 AM ET Company Participants Huang Pu - IR Charles Zhang - CEO Joanna Lu - CFO James Deng - VP, Finance Dewen Chen - CEO, Changyou Yaobin Wang - CFO, Changyou Conference Call Participants Eddie Leung - Bank of America Merrill Lynch Alicia Yap - Citigroup Thomas Chong - Jefferies Operator Ladies and gentlemen, thank you for standing by, and good evening. Thank you for joining Sohu's Second Quarter 2021 Earnings Conference Call. [Op ...

Financial Performance - Total revenues for Q2 2021 were $204 million, representing a 28% increase year-over-year but an 8% decrease quarter-over-quarter[3]. - GAAP net income from continuing operations was $22 million, compared to $11 million in Q2 2020 and $32 million in Q1 2021[13]. - Non-GAAP net income from continuing operations was $25 million, compared to $12 million in Q2 2020 and $37 million in Q1 2021[13]. - Operating profit decreased to $24.8 million in Q2 2021 from $50.8 million in Q1 2021, while net income attributable to Sohu.com Limited was $40.7 million, down from $49.2 million in Q1 2021[30]. - Basic net income per share attributable to Sohu.com Limited was $1.03 for Q2 2021, compared to $1.25 in Q1 2021 and a loss of $2.04 in Q2 2020[30]. - The company reported a net income from discontinued operations of $55.9 million in Q2 2021, compared to $52.3 million in Q1 2021[30]. - The company reported a net income of $21,851 for the quarter, compared to a net loss of $74,397 in the same quarter last year[33]. Revenue Breakdown - Online game revenues reached $151 million, up 43% year-over-year, driven by the success of TLBB Vintage, but down 14% quarter-over-quarter[7]. - Brand advertising revenues totaled $37 million, down 3% year-over-year but up 20% quarter-over-quarter, attributed to seasonal increases[7]. - Online games revenue was $151.3 million, down 14% from $176.5 million in Q1 2021, and up 43% from $105.9 million in Q2 2020[30]. - For Q3 2021, brand advertising revenues are expected to be between $35 million and $39 million, indicating a potential annual decrease of 5% to 15%[18]. - Online game revenues for Q3 2021 are projected to be between $145 million and $155 million, suggesting an annual increase of 43% to 53%[18]. Operating Expenses and Margins - Operating expenses for Q2 2021 were $130 million, a 23% increase year-over-year and a 5% increase quarter-over-quarter[10]. - GAAP gross margin was 76%, up from 67% in Q2 2020 but down from 79% in Q1 2021[8]. - Total operating expenses for Q2 2021 were $130.3 million, an increase from $124.4 million in Q1 2021[30]. - Gross profit for Q2 2021 was $155.1 million, compared to $175.2 million in Q1 2021 and $106.9 million in Q2 2020[30]. - Online games gross profit was $134,246, maintaining a gross margin of 89%[33]. - Brand advertising gross profit was $10,070, with a gross margin of 27%[33]. Assets and Liabilities - As of June 30, 2021, cash and cash equivalents and short-term investments totaled $349 million[14]. - Total assets increased to $3,063,721, up from $2,822,121, representing a growth of 8.5%[32]. - Current assets rose to $2,496,592, compared to $2,254,872, reflecting an increase of 10.7%[32]. - Total liabilities increased to $1,854,343 from $1,790,140, marking a rise of 3.6%[32]. - Shareholders' equity grew to $1,209,378, up from $1,031,981, an increase of 16.2%[32]. Market Position and Future Outlook - Sohu's reliance on online advertising sales, online games, and mobile services continues to be a significant revenue driver[30]. - The company is facing risks including instability in global financial markets and regulatory uncertainties in China[24]. - Sohu's online search subsidiary Sogou has become the second largest search engine by mobile queries in China[27]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[32].

Financial Performance - In Q1 2021, total revenues were $222 million, up 24% year-over-year but down 12% quarter-over-quarter [7] - Non-GAAP net income was $37 million, significantly exceeding previous guidance, attributed to strict budget control and strong online game performance [6] - GAAP net income from continuing operations was $32 million, compared to a net loss of $10 million in Q1 2020 [8] Business Segment Performance - Sohu Media Portal revenues were $80 million, up 18% year-over-year but down 26% quarter-over-quarter, with an operating loss of $31 million [14] - Sohu Video revenues were $90 million, down 17% year-over-year and 15% quarter-over-quarter, with an operating loss of $13 million [14] - Changyou's revenues, including 17173, were $180 million, up 32% year-over-year but down 10% quarter-over-quarter, with an operating profit of $101 million [14] Market Performance - Brand advertising revenues were $31 million, up 20% year-over-year but down 26% quarter-over-quarter [7] - Online game revenues were $176 million, up 32% year-over-year but down 10% quarter-over-quarter [7] Company Strategy and Industry Competition - The company is focusing on improving products and technology, enhancing content generation, and social distribution [6] - Live broadcasting technologies are being integrated into marketing campaigns to attract user attention and advertiser budgets [7] - The company aims to grow its user base organically through improved technology and distribution rather than heavy spending [26] Management Commentary on Operating Environment and Future Outlook - Management noted that the macroeconomic situation is not favorable, particularly due to a shortage of mobile chips affecting the auto industry [21] - The company expects brand advertising revenues in Q2 2021 to be between $36 million and $40 million, reflecting a cautious outlook [15] - Management emphasized the need to demonstrate growth potential to improve stock price, focusing on building a larger user base [36] Other Important Information - The company will not discuss Sogou business updates or agreements with Tencent regarding Sogou's privatization during the call [15] - Several key games are in development, with anticipated launches later this year, including "Taxi Adventure" and "Bright Star" [41] Q&A Session Summary Question: What drove the strong gaming revenue performance? - Management indicated that the better-than-expected performance was due to slower-than-anticipated decline in TLBB Vintage and increased player engagement during the spring festival [18] Question: Concerns about online advertising guidance? - Management explained that the year-over-year comparison is challenging due to a strong Q2 in 2020 and current macroeconomic conditions affecting advertising budgets [21] Question: Content strategies and user engagement? - Management highlighted the importance of growing the user base through unique content events and live streaming to drive advertising revenue [25] Question: Advertising demand from various industries? - Management noted that the auto industry is currently facing challenges, but FMCG and other sectors are showing better demand [30][33] Question: Steps to support stock price? - Management emphasized the need to demonstrate growth potential and build a larger user base to improve stock valuation [36]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

Sohu.com Limited (NASDAQ:SOHU) Q4 2020 Earnings Conference Call February 4, 2021 7:30 AM ET Company Participants Huang Pu - Investor Relations Charles Zhang - Chairman and Chief Executive Officer Yanfeng Lu - Chief Financial Officer Conference Call Participants Eddie Leung - Merrill Lynch Alicia Yap - Citigroup Thomas Chong - Jefferies Operator Ladies and gentlemen, thank you for standing by, and good evening. Thank you for joining Sohu's Fourth Quarter 2020 Earnings Conference Call. At this time, all parti ...

Financial Data and Key Metrics Changes - Total revenues for Q3 2020 were $158 million, down 6% year-over-year and 1% quarter-over-quarter [9] - Brand advertising revenues reached $41 million, down 11% year-over-year but up 8% quarter-over-quarter [9] - Online game revenues were $101 million, down 6% year-over-year and 4% quarter-over-quarter [9] - GAAP net loss from continuing operations was $50 million, compared to a net loss of $33 million in Q3 2019 [10] - Non-GAAP net loss from continuing operations was $7 million, compared to a net loss of $30 million in the same quarter last year [10] Business Line Data and Key Metrics Changes - Sohu Media Portal revenues were $25 million, down 3% year-over-year and up 9% quarter-over-quarter, with an operating loss of $23 million [15] - Sohu Video revenues were $23 million, up 1% year-over-year and 2% quarter-over-quarter, with an operating loss of $12 million [15] - Changyou's revenues, including 17173, were $104 million, down 6% year-over-year and 5% quarter-over-quarter, with an operating profit of $33 million [15] Market Data and Key Metrics Changes - The brand advertising revenue growth was attributed to sectors such as the auto industry, internet services, and real estate [20][21] - In Q3, PC games accounted for 61% of online game revenue, while mobile games accounted for 39% [23] Company Strategy and Development Direction - The company is focusing on optimizing products, refining technology, and enhancing premium content distribution [7] - Sohu Video is implementing a two-engine strategy with long-form and short-form videos, and is enhancing live streaming technology [11] - Changyou is concentrating on MMORPG mobile games and developing new games across various genres [14] Management Comments on Operating Environment and Future Outlook - Management acknowledged the challenging macroeconomic environment but noted positive user interaction and advertiser feedback [8] - For Q4 2020, brand advertising revenues are expected to be between $37 million and $42 million, while online game revenues are projected to be between $140 million and $150 million [16] Other Important Information - Sogou's results have been excluded from the company's results due to its planned merger with Tencent [9] - The company is diversifying monetization strategies and exploring new opportunities in live streaming and live commerce [12][13] Q&A Session Summary Question: Trend for different key categories in brand advertising - Management highlighted the auto industry, internet services, and real estate as key sectors driving brand advertising growth [20][21] Question: Breakdown of PC versus mobile games and drivers for growth - In Q3, PC games accounted for 61% of revenue, while mobile games accounted for 39%. The growth in Q4 is driven by nostalgic content and new game launches [23][24] Question: Outlook for game pipeline next year - Management indicated that several games are in development, with specific launches dependent on licensing and testing [27] Question: Content investment strategy for Sohu Video - The company plans to maintain similar spending on long-form content while focusing on user-generated content and live streaming for cost efficiency [29]