Sohu.com Limited (NASDAQ:SOHU) Q2 2019 Earnings Conference Call August 5, 2019 8:30 AM ET Company Participants Huang Pu - Investor Relations Director Charles Zhang - Chairman & Chief Executive Officer Joanna Lv - Chief Financial Officer Conference Call Participants Eddie Leung - Merrill Lynch Alicia Yap - Citigroup Wei Tzu - First Capital Operator Ladies and gentlemen, thank you for standing by and good evening. Thank you for joining Sohu's Second Quarter 2019 Earnings Conference Call. At this time, all par ...

Sohu.com Limited (NASDAQ:SOHU) Q1 2019 Earnings Conference Call April 29, 2019 8:30 AM ET Company Participants Eric Yuan - IR Charles Zhang - Chairman and CEO Joanna Lv - CFO Conference Call Participants Alicia Yap - Citigroup Operator Ladies and gentlemen, thank you for standing by, and good evening. Thank you for joining Sohu's First Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a Question-and-Answer sess ...

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, 2018 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 Data and Key Metrics Changes - Total revenues for Q4 2018 were $482 million, down 5% year-over-year but up 5% quarter-over-quarter [8] - Net brand advertising revenue was $57 million, down 20% year-over-year and flat quarter-over-quarter [8] - Search and search-related advertising revenues were $277 million, up 12% year-over-year and 8% quarter-over-quarter [8] - Online games revenue was $94 million, down 14% year-over-year and 2% quarter-over-quarter [9] - GAAP net income attributable to Sohu.com Limited was $15 million compared to a net loss of $295 million in Q4 2017 [9] - Non-GAAP net loss attributable to Sohu.com Limited was $59 million, improved from a loss of $78 million in Q4 2017 [9] - Full year 2018 total revenue was $1.8 billion, up 1% from 2017 [10] Business Line Data and Key Metrics Changes - Sohu Media Portal revenues for Q4 were $33 million, down 10% year-over-year, with a quarterly loss of $36 million [22] - Sohu Video revenues for Q4 were $26 million, down 34% year-over-year, with a quarterly loss of $13 million [23] - Sogou's quarterly revenues were $298 million, up 7% year-over-year, with net income of $27 million [23] - Changyou's quarterly revenues were $180 million, down 18% year-over-year, with net income of $11 million [24] Market Data and Key Metrics Changes - Daily active users of Sohu News app doubled in December 2018, with page views tripling from the previous year [12] - Sogou Mobile Keyboard reached 430 million daily active users, an increase of 28% from the prior year [18] Company Strategy and Development Direction - The company focused on key mobile products and improving operating efficiencies in a challenging macroeconomic environment [6] - Sohu Video plans to enhance original content production while acquiring low-cost TV programs to improve its content library [17] - Sogou aims to integrate AI technologies into its products and services, enhancing search quality and user engagement [18] - Changyou will prioritize developing high-quality MMORPG mobile games and exploring opportunities in strategy games [21] Management Comments on Operating Environment and Future Outlook - Management noted that the slowdown in China's economic growth negatively impacted advertising revenues, particularly in the auto and IT sectors [13] - Despite macro headwinds, management is confident that Sohu Media will achieve positive growth in 2019 through increased content marketing efforts [13] - The company is optimistic about Sohu Video reaching profitability within the year due to a better content mix and improved monetization strategies [37] Other Important Information - Changyou recognized a $60 million charge for goodwill impairment related to a one-time announcement, affecting non-GAAP net loss figures [9] - The company plans to enhance its advertising system to improve conversions and attract more budgets from small and medium enterprises [13] Q&A Session Summary Question: Impact of negative seasonality on brand advertising - Management indicated that the decline in brand advertising metrics is primarily due to seasonality related to the Chinese New Year, with macroeconomic conditions having a secondary impact [30] Question: Comparison of current macro softness to previous cycles - Management noted that traditional sectors like auto and IT are facing challenges, but emphasized the need to diversify the client base to mitigate risks [33] Question: Update on Sohu Video's path to breakeven - Management expressed confidence in reaching profitability for Sohu Video within the year, citing a successful mix of in-house produced content and cost-cutting measures [37] Question: Current state of video regulation in China - Management acknowledged tightening regulations in the online video industry but stated that the impact is less severe compared to the media side [37]