BEIJING, May 6, 2024 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU), a leading Chinese online media, video and game business group, will report its first quarter 2024 unaudited financial results on Monday, May 20, 2024, before U.S. market hours. Sohu's management team will host a conference call on the same day at 7:30 a.m. U.S. Eastern Time, May 20, 2024 (7:30 p.m. Beijing/Hong Kong time, May 20, 2024) following the quarterly results announcement. Conference Call Preregistration Participants can register ...

A month has gone by since the last earnings report for Sohu.com (SOHU) . Shares have added about 10% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Sohu.com due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Sohu Q4 Loss Narrower Than Expected Despite Revenue DeclineS ...

Group 1 - Sohu.com Limited filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2023, with the Securities and Exchange Commission [1] - The Annual Report is accessible on the Company's investor relations website and hard copies are available upon request [1] - Sohu is a leading Chinese online media, video, and game business group, established in the 1990s by Dr. Charles Zhang [2] Group 2 - Sohu operates a comprehensive matrix of Chinese language web properties, including Sohu News App, Sohu Video App, and the online games platform Changyou [2][3] - The Company provides online brand advertising services and a variety of news, information, and content services across its platforms [3] - Sohu's online game business, managed by its subsidiary Changyou, includes popular games like Tian Long Ba Bu [3]

Financial Performance - For the year ended December 31, 2023, total revenues were approximately $600.7 million, representing an 18% decrease compared to 2022[638]. - The brand advertising business generated revenues of $88.7 million, a 14% annual decrease, accounting for 15% of total revenues[638]. - The online game business generated revenues of $479.7 million, an 18% annual decrease, representing 80% of total revenues[638]. - The net loss from continuing operations was $66.1 million in 2023, compared to a net loss of $17.3 million in 2022[638]. - Revenues from Sohu Media Portal were $66.1 million for 2023, down from $76.8 million in 2022, with the number of advertisers decreasing to 1,400[658]. - Revenues from Sohu Video were $17.6 million for 2023, compared to $19.6 million in 2022, with the number of advertisers increasing to 93[658]. - Revenues from mobile games were $111.0 million for 2023, a decrease of $48.7 million from 2022, primarily due to a decline in older games[662]. - Revenues from other services were $32.3 million for 2023, down from $45.2 million in 2022, mainly due to a $12.3 million decrease in paid subscription services[666]. Game Business Insights - Revenues from the online game business were $479.7 million for 2023, with PC games generating $368.7 million, representing 77% of online game revenues[661]. - TLBB PC generated revenues of $321.4 million in 2023, accounting for approximately 67% of Changyou's online game revenues and 53% of the Sohu Group's total revenues[661]. - The mobile game Legacy TLBB Mobile generated revenues of $55.4 million in 2023, accounting for approximately 12% of Changyou's online game revenues and 11% of total revenues[662]. - The online game gross margin was 86% for 2023, consistent with 2021, while brand advertising gross margin improved to 20%[671]. - The average monthly active accounts for mobile games decreased to 1.6 million in 2023, down from 2.4 million in 2022[665]. - The company plans to continue enhancing its capabilities in game design and technology while expanding its game portfolio with new types of games[643]. Expenses and Costs - Total cost of revenues decreased to $145.8 million in 2023, down 24% from $191.6 million in 2022[669]. - Cost of online game revenues was $65.0 million for 2023, a decrease of $26.0 million from 2022, including a $22.0 million reduction in revenue-sharing payments[671]. - Product development expenses increased to $279.8 million in 2023, a 7% increase from 2022, driven by higher bandwidth service and salary expenses[676]. - Sales and marketing expenses were $213.4 million for 2023, a decrease of $12.1 million from 2022, primarily due to reduced advertising expenses[678]. - General and administrative expenses decreased to $48.9 million in 2023, down 14% from 2022, mainly due to lower salary and benefits expenses[679]. Cash Flow and Liquidity - The company had cash and cash equivalents of approximately $362.5 million as of December 31, 2023, with short-term investments totaling $597.8 million and long-term time deposits of $388.6 million[693]. - Net cash used in continuing operating activities was $25.6 million in 2023, primarily due to the net loss of $66.1 million, adjusted for non-cash items[698]. - Net cash used in continuing investing activities was $291.7 million in 2023, mainly due to $1.80 billion spent on short-term investments and time deposits[701]. - Net cash used in continuing financing activities was $6.6 million in 2023, primarily for share repurchases[703]. - The company expects its current liquidity and capital resources to be sufficient for at least the next twelve months[693]. Tax Liabilities and Regulatory Issues - As of December 31, 2023, the company accrued deferred tax liabilities of $253.5 million for withholding taxes related to dividends from its Chinese mainland-based WFOEs to its Hong Kong subsidiary[707]. - Long-term tax liabilities recorded were $212.9 million, primarily related to unrecognized tax benefits and potential additional tax obligations[714]. - The company is subject to a 10% withholding income tax on dividends distributed to foreign holding companies, which can be reduced to 5% under certain conditions[707]. - Regulatory restrictions in the Chinese mainland may limit the ability of the company’s subsidiaries to distribute dividends, affecting cash availability for the parent company[705]. - The RMB is not convertible into foreign currencies for capital account items without prior approval from SAFE, affecting the company's ability to repatriate investments[709]. Accounting Standards and Financial Reporting - Recent accounting standards adopted on January 1, 2023, did not significantly impact the company's consolidated financial statements[716]. - The company is evaluating the impact of new accounting standards related to segment reporting and income taxes, effective in 2024 and 2025 respectively[717][718].

Sohu.com Limited (SOHU) reported mixed fourth-quarter 2023 results, with the bottom line beating the Zacks Consensus Estimate but the top line missing the same. Despite increasing user engagement and innovative strategic investments in its platform, the leading provider of online advertising, media and gaming services in China recorded year-over-year lower revenues owing to the adverse impact of rigid government regulations and macroeconomic headwinds.Net IncomeOn a GAAP basis, the company incurred a net lo ...

Sohu.com Limited (NASDAQ:SOHU) Q4 2023 Earnings Conference Call March 4, 2024 7:30 AM ET Company Participants Huang Pu - Investor Relations Director Charles Zhang - Chairman & Chief Executive Officer Joanna Lv - Chief Financial Officer Conference Call Participants Thomas Chong - Jefferies Alicia Yap - Citigroup Operator Ladies and gentlemen, thank you for standing by, and good evening. Thank you for joining Sohu's Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-o ...

Sohu.com (SOHU) came out with a quarterly loss of $0.32 per share versus the Zacks Consensus Estimate of a loss of $0.40. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20%. A quarter ago, it was expected that this operator of a popular Chinese Web portal would post a loss of $0.59 per share when it actually produced a loss of $0.30, delivering a surprise of 49.15%.Over the last four quarters, t ...

BEIJING, March 4, 2024 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), a leading Chinese online media, video, and game business group, today reported unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter Highlights[1] Total revenues were US$141 million, down 12% year-over-year and 3% quarter-over-quarter. Brand advertising revenues were US$20 million, down 30% year-over-year and 9% quarter-over-quarter. Online game revenues wer ...

Exhibit 99.1 SOHU.COM REPORTS FOURTH QUARTER AND FISCAL YEAR 2023 UNAUDITED FINANCIAL RESULTS BEIJING, March 4, 2024 –Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), a leading Chinese online media, video, and game business group, today reported unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter Highlights 1 • Total revenues were US$141 million, down 12% year-over-year and 3% quarter-over-quarter. • Brand advertising revenues were US$20 milli ...

BEIJING, Feb. 20, 2024 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU), a leading Chinese online media, video and game business group, will report its fourth quarter and fiscal year 2023 unaudited financial results on Monday, March 4, 2024, before U.S. market hours.Sohu's management team will host a conference call on the same day at 7:30 a.m. U.S. Eastern Time, March 4, 2024 (8:30 p.m. Beijing/Hong Kong time, March 4, 2024) following the quarterly results announcement.Conference Call PreregistrationPartici ...