Sohu.com Limited (NASDAQ:SOHU) Q3 2023 Earnings Call Transcript November 13, 2023 7:30 AM ET Company Participants Huang Pu - Investor Relations Director Charles Zhang - Chairman and 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 Third Quarter 2023 Earnings Conference Call. [Operator Instructions]. Today's conference ...

Exhibit 99.1 SOHU.COM REPORTS THIRD QUARTER 2023 UNAUDITED FINANCIAL RESULTS BEIJING, Nov 13, 2023 –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 third quarter ended September 30, 2023. Third Quarter Highlights 1 • Total revenues were US$145 million, down 22% year-over-year and 4% quarter-over-quarter. • Brand advertising revenues were US$22 million, down 14% year-over-year and 8% ...

Sohu.com Limited (NASDAQ:SOHU) Q2 2023 Earnings Call Transcript August 7, 2023 7:30 AM ET Company Participants Huang Pu - Investor Relations Director Charles Zhang - Chairman and Chief Executive Officer Joanna Lv - Chief Financial Officer Dewen Chen - Chief Executive Officer, Changyou 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 Second Quarter 2023 Earnings Conference Call ...

Exhibit 99.1 SOHU.COM REPORTS SECOND QUARTER 2023 UNAUDITED FINANCIAL RESULTS BEIJING, Aug 7, 2023 –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 second quarter ended June 30, 2023. Second Quarter Highlights • Total revenues were US$152 million, down 22% year-over-year and 6% quarter-over-quarter. • Brand advertising revenues were US$24 million, down 4% year-over-year and up 6% qua ...

Financial Performance and Key Metrics - In Q1 2023, total revenue was $162 million, down 16% year-over-year but up 1% quarter-over-quarter [7] - Brand advertising revenue was $23 million, down 5% year-over-year and 22% quarter-over-quarter [7] - Online game revenues were $129 million, down 18% year-over-year but up 7% quarter-over-quarter [7] - GAAP net loss attributable to Sohu.com Limited was $80 million, compared to a net income of $3 million in Q1 2022 [8] - Non-GAAP net loss was $13 million, compared to a net income of $9 million in the same quarter last year [8] Business Line Performance - Sohu Media Portal revenues were $18 million, unchanged from the same quarter last year, with an operating loss of $35 million [14] - Sohu Video revenues were $30 million, down from $50 million in the same quarter last year, with an operating loss of $32 million [14] - Changyou's online game business revenues were $131 million, down from $160 million in the same quarter last year, with an operating profit of $55 million [14] Market Data and Key Metrics - The advertising industry outlook for 2023 shows top categories as auto (25%), FMCG (15%), and internet service (15%) [18] - The advertising market is expected to recover moderately, with small-ticket items showing signs of recovery [19][25] Company Strategy and Industry Competition - The company is focusing on enhancing user experience and operational efficiency through product and algorithm refinements [6] - Sohu Video is developing both long-form and short-form original content under a Twin Engine strategy, consolidating resources for diverse monetization opportunities [6][10] - The online game business aims to maintain stability while introducing new games and updates to engage players [13][21] Management Comments on Operating Environment and Future Outlook - Management noted that the advertising market is showing signs of recovery, particularly in small-ticket items, while large-ticket items remain weak [19][25] - The company anticipates a potential recovery in the auto industry advertising in Q3 due to increased competition, especially in the electric vehicle sector [18][26] - For the gaming segment, the company expects a sequential bounce in Q3 following the launch of new games [24][28] Other Important Information - The company expects brand advertising revenues for Q2 2023 to be between $23 million and $26 million, and online game revenues to be between $112 million and $122 million [15] - Non-GAAP net loss for Q2 is expected to be between $15 million and $25 million, while GAAP net loss is projected to be between $80 million and $28 million [15] Q&A Session Summary Question: Advertising industry outlook and spending budget among various sectors - Management indicated that the auto industry is expected to recover in Q2 or Q3, while FMCG shows some recovery in small items [18][19] Question: Online game outlook and game pipelines for 2023 - Management confirmed the release of new TLBB Mobile in Q3 and other projects pending license approval [20][21] Question: Overall advertising sentiment and potential for big-ticket item spending - Management noted that while big-ticket items remain weak, there is potential for recovery in small-ticket items and FMCG [25][26] Question: Guidance for gaming in Q2 and expectations for Q3 - Management acknowledged a weaker guidance for Q2 due to fewer promotions but expects a meaningful bounce in Q3 with new game launches [24][28]

Exhibit 99.1 SOHU.COM REPORTS FIRST QUARTER 2023 UNAUDITED FINANCIAL RESULTS BEIJING, May 15, 2023 –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 first quarter ended March 31, 2023. First Quarter Highlights • Total revenues were US$162 million, down 16% year-over-year and up 1% quarter-over-quarter. • Brand advertising revenues were US$23 million, down 5% year-over-year and 22% qua ...

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, 2022 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 ...

Financial Performance - Total revenues for Q4 2022 were $160 million, down 17% year-over-year and 13% quarter-over-quarter [7] - Brand advertising revenues were $29 million, down 14% year-over-year but up 12% quarter-over-quarter [8] - Online game revenues were $121 million, down 16% year-over-year and 18% quarter-over-quarter [8] - GAAP net loss attributable to Sohu.com Limited was $7 million, compared to a net income of $4 million in Q4 2021 [8] - For the full year 2022, total revenues were $734 million, down 12% compared to 2021 [9] Business Segment Performance - Sohu Media Portal revenues for Q4 were $16 million, down 16% year-over-year and up 9% quarter-over-quarter, with an operating loss of $32 million [15] - Sohu Video revenues for Q4 were $16 million, down 28% year-over-year and up 1% quarter-over-quarter, with an operating loss of $21 million [16] - Changyou's online game revenues for Q4 were $122 million, down 16% year-over-year and 18% quarter-over-quarter, with an operating profit of $54 million [16] Market Insights - The overall advertising market outlook for 2023 is optimistic, with companies beginning to spend on marketing again [20] - The automotive and FMCG sectors are expected to lead in advertising spending recovery [20] Company Strategy and Industry Competition - The company plans to continue investing in product refinement and user acquisition to enhance stickiness and user engagement [21] - There is a focus on AI technology and adapting algorithms for better content delivery [22] - The company aims to launch new games, including TLBB, in Q3 2023, while also considering share buybacks [24] Management Commentary on Operating Environment and Future Outlook - Management expressed optimism about the advertising market recovering post-COVID, with expectations of increased spending in 2023 [20] - The first quarter of 2023 is expected to show improvement, although it remains a slow season [29] Other Important Information - Non-GAAP net loss for Q4 2022 was $2 million, compared to a net income of $0.2 million in Q4 2021 [8] - The company anticipates brand advertising revenues for Q1 2023 to be between $20 million and $23 million, indicating a potential annual decrease [17] Q&A Session Summary Question: Overall advertising industry outlook in 2023 - Management sees an optimistic outlook for the advertising market in 2023, with increased spending expected from companies [20] Question: Use of cash and investment strategies - The company plans to invest in product refinement and user acquisition, particularly in Sohu Video and Sohu Media Portal [21] Question: Launch timing for new games and potential share buybacks - New TLBB is planned for launch in Q3 2023, and share buybacks are a possibility [24] Question: Drivers for sequential improvement in gaming business - Promotional activities around Chinese New Year are expected to drive engagement and revenue in the gaming segment [28] Question: Advertising business guidance and year-over-year growth - The first quarter of 2023 is expected to show a decrease in advertising revenue year-over-year, but management is optimistic about recovery in Q2 [29]

Exhibit 99.1 SOHU.COM REPORTS FOURTH QUARTER AND FISCAL YEAR 2022 UNAUDITED FINANCIAL RESULTS BEIJING, February 21, 2023 –Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), China's leading online media, video, and game business group, today reported unaudited financial results for the fourth quarter and fiscal year ended December 31, 2022. Fourth Quarter Highlights • Total revenues were US$160 million, down 17% year-over-year and 13% quarter-over-quarter. • Brand advertising revenues were US$29 mill ...

Financial Performance and Key Metrics - For Q3 2022, total revenue was $185 million, down 14% year-over-year and 5% quarter-over-quarter [8] - Brand advertising revenue was $26 million, down 24% year-over-year and up 3% quarter-over-quarter [8] - Online game revenues were $149 million, down 11% year-over-year and 5% quarter-over-quarter [8] - GAAP net loss attributable to Sohu.com Limited was $22 million compared to a net income of $12 million in Q3 2021 [9] - Non-GAAP net loss attributable to Sohu.com Limited was $17 million compared to a net income of $17 million in Q3 2021 [9] Business Line Performance - Sohu Media Portal revenues were $50 million, down 11% year-over-year and 6% quarter-over-quarter, with an operating loss of $38 million [13] - Sohu Video revenues were $60 million, down 29% year-over-year and up 4% quarter-over-quarter, with an operating loss of $31 million [13] - Changyou's online game business revenues were $150 million, down 11% year-over-year and 6% quarter-over-quarter, with an operating profit of $58 million [14] Market Data and Key Metrics - The advertising market is experiencing a downward trend, with auto advertising performing relatively better while real estate is struggling [17] - FMCG showed improvement in Q3 compared to previous quarters [17] Company Strategy and Industry Competition - The company is focusing on refining products, improving operating efficiency, and enhancing monetization capabilities despite macroeconomic uncertainties [6] - Sohu is executing a Twin Engine strategy for Sohu Video, leveraging advanced live broadcasting technology and premium content [10] Management Comments on Operating Environment and Future Outlook - Management noted that the advertising market is facing challenges due to COVID-19 and macroeconomic conditions, impacting brand advertising income [22] - There is cautious optimism regarding advertising recovery, dependent on overall economic conditions and COVID-19 policies [29] Other Important Information - The company expects brand advertising revenues for Q4 2022 to be between $25 million and $28 million, indicating a potential annual decrease of 17% to 26% [14] - Online game revenues for Q4 2022 are expected to be between $118 million and $128 million, reflecting an annual decrease of 11% to 18% [14] Q&A Session Summary Question: Advertising trends across different categories and outlook for 2023 - Management indicated that the advertising market is generally declining, with auto performing better and real estate struggling [17] Question: Gaming business and approval trends in China - Management confirmed that several projects are awaiting license approval, with over 10 games in the pipeline [18] Question: Near-term advertising trends and impact of lockdowns - Management acknowledged that lockdowns negatively impacted advertising income, but unique online events helped recover some advertising dollars [22][23] Question: Use of cash and potential for share buybacks - Management is cautious about further buybacks due to economic uncertainties but remains open to future opportunities [24][30] Question: Soft gaming guidance for Q4 - Management explained that the decline is due to natural declines in some games and the impact of exchange rates [27]