搜狐创始人、董事局主席兼首席执行官张朝阳表示，2025年第二季度，公司营销服务收入符合此前预 期，在线游戏收入和集团净亏损均达此前最佳预期。花旗分析师维持搜狐"买入"评级，并将目标价从17 美元上调至20美元。 周二，搜狐(SOHU.US)涨逾6%，报15.40美元。财报显示，搜狐2025年第二季度总收入为1.26亿美元。 其中，营销服务收入为1600万美元，在线游戏收入为1.06亿美元。归于公司的非美国通用会计准则净亏 损为2000万美元，相较于2024年同期的3400万美元净亏损，同比收窄超40%。 ...

Group 1: Technology Developments - Tencent announced the open-source of four small-sized models (0.5B-7B) to support deployment on devices like laptops and smartphones, showcasing high performance in long content processing and complex decision-making [2] - 360 Group upgraded its Nano AI brand to "Multi-Agent Swarm," achieving L4 level and introducing a unique "swarm collaboration framework" that enhances efficiency in video production and content creation [5] - Apple is testing its self-developed camera sensor featuring LOFIC technology, expected to be used in future iPhone models, marking a move towards reducing reliance on Sony [12] Group 2: Autonomous Vehicles - RoboTaxi announced a strategic partnership with Lyft to create the largest autonomous vehicle fleet in Europe, with plans to deploy thousands of self-driving cars by 2026 [3] Group 3: Financial Performance - Sohu reported Q2 2025 total revenue of $126 million, with a net loss of $20 million, reflecting a more than 40% year-over-year reduction in losses [11] Group 4: Corporate Strategies - Shanghai State-owned Assets Supervision and Administration Commission aims to enhance original technology development among state-owned enterprises, focusing on strategic and disruptive technologies [7] - Neta Auto is publicly recruiting restructuring investors as part of its bankruptcy reorganization process [8][9] Group 5: Product Innovations - DJI is secretly developing a panoramic drone expected to launch by the end of the year, indicating competition with the recently announced drone by YingShi [4] - Gaode Map announced the launch of the world's first AI-native intelligent agent, aiming to integrate AI into everyday travel experiences [13]

Group 1: Technology Developments - Tencent has open-sourced four small-sized models (0.5B-7B) aimed at deployment on devices like laptops and smartphones, showcasing high performance in long content processing and complex decision-making [2] - 360 Group has upgraded its Nano AI brand to a "multi-agent swarm," achieving L4 level capabilities and significantly improving video production efficiency from 2 hours to 20 minutes [5] - OpenAI's ChatGPT is projected to reach 700 million weekly active users, marking a 4-fold increase year-over-year, with daily message volume surpassing 3 billion [6] Group 2: Autonomous Vehicles -萝卜快跑 has partnered with Lyft to create the largest autonomous vehicle fleet in Europe, planning to deploy thousands of self-driving cars by 2026 [3] Group 3: Financial Performance - Sohu reported Q2 2025 total revenue of $126 million, with a net loss of $20 million, a reduction of over 40% year-over-year [11] Group 4: New Product Launches - DJI is secretly developing a panoramic drone expected to launch by the end of the year, competing with the recently announced "影翎Antigravity" from影石 [4] - Apple is testing its self-developed camera sensor featuring LOFIC technology, expected to be used in the iPhone 18 series, indicating a move towards reducing reliance on Sony [12] - Gaode Map has launched the world's first AI-native intelligent agent, aiming to integrate AI into everyday travel experiences [13] Group 5: Strategic Initiatives - Shanghai State-owned Assets Supervision and Administration Commission is promoting state-owned enterprises to become original technology sources, focusing on strategic and disruptive technology advancements [8]

Group 1 - Silicon-based Intelligence reported over 2 million malicious attacks on its service platform in the past week and has filed a police report [3] - The company disclosed its financial status, stating it secured hundreds of millions in financing and bank credit, with cash reserves sufficient to cover over 120 months of salaries [4] - In the first month of the second half of 2025, Silicon-based Intelligence locked in over 300 million yuan in AIGC orders, indicating no imminent layoffs due to financial issues [4] Group 2 - Apple reported a strong performance in Q3 of fiscal year 2025, with total revenue of $94.04 billion, a 10% year-on-year increase, and net profit of $23.43 billion, up 9% [5] - The Greater China region contributed $15.37 billion in revenue, a 4.4% increase, partly due to government subsidies for certain devices [5] Group 3 - Nintendo's Switch 2 sold 5.82 million units in its first month, setting a record for global console sales [9] - The company's net sales for Q1 reached 572.36 billion yen (approximately 27.23 billion yuan), a 132.1% increase year-on-year [9] Group 4 - Sohu reported Q2 total revenue of $126 million, with online gaming revenue at $106 million, and a non-GAAP net loss of $20 million, narrowing by over 40% year-on-year [21] - The company’s marketing services revenue met expectations, and online gaming revenue exceeded prior best estimates [21] Group 5 - China's low-altitude economy is projected to exceed 1.5 trillion yuan by 2025, with approximately 38,000 existing drone-related companies [23] - 75.8% of these companies have registered capital exceeding 1 million yuan, with 36.4% having over 5 million yuan [23]

Core Viewpoint - Sohu's Q2 2025 financial report shows a total revenue of approximately $126 million, with a net loss of $20.01 million, indicating a year-over-year improvement of over 40% in net loss [1] Financial Performance - Total revenue for Q2 2025 is approximately $126 million [1] - Net loss for the quarter is $20.01 million, which is a reduction of over 40% compared to the previous year [1] - Marketing services revenue is approximately $15.62 million [1] - Online gaming revenue is approximately $106 million [1] - Other revenue amounts to approximately $4.65 million [1] Stock Buyback Program - Sohu has a stock buyback program with a total amount of up to $150 million [1] - As of July 31, 2025, Sohu has repurchased 6.6 million shares of its American Depositary Shares, totaling approximately $83 million [1]

中证报中证网讯（记者 任明杰）搜狐公司8月4日公布的2025年第二季度财务报告显示，搜狐第二季度 营收达1.26亿美元，其中，营销服务收入为1600万美元，在线游戏收入为1.06亿美元；归属于搜狐的非 美国通用会计准则的净亏损为2000万美元，相较于2024年同期的3400万美元净亏损大幅收窄。 此外，根据此前宣布的总金额最高1.5亿美元的美国存托股票回购计划，截至2025年7月31日，搜狐已经 回购了660万股搜狐美国存托股票，总金额约8300万美元。 搜狐创始人、董事局主席兼首席执行官张朝阳表示，2025年第二季度，公司营销服务收入符合此前预 期，在线游戏收入和公司净亏损均达此前最佳预期。 ...

Sohu.com (SOHU) Q2 2025 Earnings Call August 04, 2025 07:30 AM ET Company ParticipantsPu Huang - Investor Relations Officer - ChinaCharles Zhang - Chairman & CEOJoanna Lv - Chief Financial OfficerThomas Chong - Managing DirectorYaobin Wang - CFO, ChangyouConference Call ParticipantsAlicia Yap - Equity Research AnalystOperatorLadies and gentlemen, thank you for standing by, and good evening. Thank you for joining Sohu's Second Quarter twenty twenty five Earnings Conference Call. At this time, all participant ...

Financial Performance - Total revenues for Q2 2025 were $126 million, down 27% year over year and 7% quarter over quarter [7] - Marketing services revenues were $16 million, down 21% year over year but up 14% quarter over quarter [7] - Online game revenues were $106 million, down 28% year over year and 10% quarter over quarter [7] - GAAP net loss attributable to Silver dot com Limited was $20 million, compared to a net loss of $38 million in Q2 2024 [8] - Non-GAAP net loss attributable to total.com Limited was $20 million, compared to a net loss of $34 million in the same quarter last year [8] Business Segment Performance - Sohu Media Platform revenues for the quarter were $19 million, down from $24 million in the same quarter last year, with an operating loss of $69 million [16] - Changyou's quarterly revenues were $107 million, down from $148 million in the same quarter last year, but operating profit increased to $51 million from $32 million [16] Market Insights - The advertising market is experiencing weakness due to macroeconomic uncertainties and lower consumer spending [24] - The auto sector remains the largest advertising sector, followed by FMCG and IT services, with stabilization noted in the auto sector [25] Company Strategy and Industry Competition - The company is focusing on enhancing user engagement through differentiated events and product optimization [6] - There is a strategy to diversify game offerings and explore new verticals, including card-based RPGs and casual games [14] - The company aims to build a larger user base in social media, which is seen as critical for future growth [36] Management Commentary on Future Outlook - Management acknowledges the current macroeconomic challenges but remains optimistic about future user growth and market share expansion [24][26] - The company is utilizing AI to improve operational efficiency in gaming and enhance user experience in social media platforms [26][27] Other Important Information - As of July 2025, the company had repurchased 6.6 million ADS for approximately $83 million [15] - There are no current plans for additional capital returns beyond the share buyback program, as the focus remains on user base expansion [28] Q&A Session Summary Question: Insights on marketing services revenue and advertising sentiment - Management noted that advertising revenue is facing sequential weakness due to macroeconomic conditions and lower disposable income [24][25] Question: AI application in operations - AI is being used to improve efficiency in gaming and enhance search capabilities in social media apps, utilizing various language models [26][27] Question: Future capital return plans - Management confirmed that the focus is on the share buyback program, with no immediate plans for dividends or other capital returns [28] Question: Breakeven timing for marketing services revenue - Management indicated that breakeven is uncertain due to the nonlinear growth of the user base in social networks [36] Question: Sequential improvement in gaming revenue - The gaming segment is expected to perform stably, with new game releases anticipated to contribute to revenue [37] Question: Impact of events on user growth - Events like K-pop competitions are seen as community builders that help attract users to the Sohu app [39][40]

Core Insights - Sohu's Q2 2025 financial report demonstrates resilience, with total revenue of $126 million and a significant reduction in net loss by over 40% to $20 million, reflecting strategic determination during a transformation phase [1][3] Revenue Breakdown - The two core business segments of Sohu show differentiated development, with marketing services revenue stable at $16 million, indicating a solid foundation in the brand advertising market [3] - Online gaming revenue contributed $106 million, becoming the main revenue driver, attributed to a user-demand-centric product strategy [3] Operational Efficiency - The substantial improvement in non-GAAP net loss highlights Sohu's effectiveness in cost control and operational efficiency [3] - Sohu employs a dual-track strategy of "maintaining core strengths while innovating," optimizing media product functions and enhancing social operations to activate platform ecology [3] Capital Management - As of July 31, 2025, Sohu has repurchased 6.6 million American Depositary Shares for approximately $83 million, representing 55% of the maximum repurchase plan [4] - This capital operation strategy not only optimizes the capital structure but also signals management's confidence in the company's long-term value [4] - In a competitive internet industry, Sohu's refined operations have led to reduced losses and increased efficiency, showcasing strategic wisdom by focusing on core business depth rather than blind expansion [4]

Core Insights - Sohu reported Q2 2025 revenue of $126 million, with marketing services revenue at $16 million and online gaming revenue at $106 million [1] - The non-GAAP net loss for Q2 2025 was $20 million, a reduction of over 40% compared to a net loss of $34 million in the same period of 2024 [1] - Sohu's founder and CEO, Zhang Chaoyang, indicated that the marketing services revenue met previous expectations, while online gaming revenue and overall net loss were in line with the best prior forecasts [1]