Core Viewpoint - Sohu.com Limited reported its third-quarter financial results for 2024, showing a mixed performance with total revenues increasing year-over-year but declining quarter-over-quarter, alongside a net loss that widened compared to the previous year and quarter [2][5]. Financial Performance - Total revenues for Q3 2024 were US$152 million, representing a 5% increase year-over-year but a 12% decrease quarter-over-quarter [2][5]. - Brand advertising revenues were US$19 million, down 15% year-over-year and 6% quarter-over-quarter [2][5]. - Online game revenues reached US$128 million, up 9% year-over-year but down 13% quarter-over-quarter [2][5]. - GAAP net loss attributable to Sohu.com Limited was US$16 million, compared to a net loss of US$14 million in Q3 2023 and US$38 million in Q2 2024 [5][4]. - Non-GAAP net loss attributable to Sohu.com Limited was US$12 million, compared to a net loss of US$10 million in Q3 2023 and US$34 million in Q2 2024 [5][4]. Gross Margin and Operating Expenses - Both GAAP and non-GAAP gross margin stood at 74%, down from 76% in Q3 2023 and up from 67% in Q2 2024 [2][5]. - Operating expenses were US$125 million, down 5% year-over-year and 22% quarter-over-quarter [2][5]. User Engagement and Game Performance - For PC games, average monthly active user accounts were 2.2 million, a decrease of 2% year-over-year and 3% quarter-over-quarter [7]. - For mobile games, average monthly active users were 3.2 million, an increase of 41% year-over-year but a decrease of 34% quarter-over-quarter [7]. Share Repurchase Program - On November 9, 2024, Sohu's board authorized an extension of its share repurchase program to November 10, 2026, allowing for the purchase of up to US$150 million of outstanding ADSs [8]. Business Outlook - For Q4 2024, Sohu estimates brand advertising revenues between US$17 million and US$19 million, and online game revenues between US$97 million and US$107 million [9]. - Non-GAAP net loss is expected to be between US$26 million and US$36 million, while GAAP net loss is projected to be between US$30 million and US$40 million [9].

Company Overview - Sohu.com Limited (NASDAQ: SOHU) is a leading Chinese online media, video, and game business group, established in the 1990s by Dr. Charles Zhang, a pioneer in China's internet industry [3][4] - The company operates a comprehensive matrix of Chinese language web properties, including Sohu News App, Sohu Video App, and the online games platform Changyou [3][4] Financial Results Announcement - Sohu will report its third quarter 2024 unaudited financial results on November 12, 2024, before U.S. market hours [1] - A conference call hosted by Sohu's management team will take place on the same day at 7:30 a.m. U.S. Eastern Time [1] Conference Call Details - Participants can preregister for the conference call through a designated registration website, receiving dial-in numbers and a unique access PIN [2] - The live webcast and archive of the conference call will be available on Sohu's Investor Relations section of its website [2]

Company Overview - Sohu Corporation operates in the digital entertainment sector, providing online media, gaming, and search products and services across PCs and mobile devices in China [2] - The company operates through its Sohu and Changyou segments, with the Changyou segment being the major revenue contributor [2] Financial Performance - Sohu reported a revenue of $172 million, with a net loss of $37.66 million, resulting in an earnings per share (EPS) of -$1.16 [1] - The gross profit for the company was $116 million, and it had a price-to-earnings (P/E) ratio of -6.02 [1] Stock Performance - Shares of Sohu experienced significant volatility, rising by 5% to a current price of $16.27 per share, with a trading volume of 353,426 shares and a turnover rate of 1.07% [1] - The price amplitude for Sohu's stock was 4.84% [1] Industry Context - The overall increase in the digital entertainment sector was 2.48%, with notable gains from related stocks such as Blue Hat Interactive, Bilibili, and NetEase [2] - Active stocks in the sector included Bilibili, Motorsport Games Inc., and Blue Hat Interactive, with turnover rates of 7.48%, 3.22%, and 2.39% respectively [2] - Significant price amplitude in the sector was observed in Blue Hat Interactive, Trugolf Holdings, Inc., and Bilibili, with fluctuations of 26.99%, 14.95%, and 12.50% respectively [2] Institutional Ratings - Institutional ratings for Sohu were optimistic, with all participating institutions giving a buy recommendation and none suggesting a hold or sell [1]

Core Viewpoint - Sohu is experiencing some signs of improvement in its mobile gaming segment, but it continues to struggle with profitability, particularly in its brand advertising business [2][3][6]. Financial Performance - In Q2, Sohu reported total revenue of $172 million, a 13% increase year-over-year, with the online gaming segment generating $147 million, up 24% from the previous year [3]. - Despite revenue growth, Sohu recorded a non-GAAP net loss of $34 million, which is a 61.9% increase in net loss compared to the previous year [3]. - The increase in net loss was attributed to a $19 million rise in the cost of revenue and a $22 million increase in operating costs, primarily due to marketing and development expenses from subsidiary Changyou [3]. User Growth and Projections - The number of monthly active users (MAU) for mobile games surged by 273% year-over-year to 4.9 million, largely driven by updates to the Westward Journey game [4]. - However, Sohu anticipates a decline in online game revenue to $104-$114 million in Q3, representing a 22-29% decrease compared to Q2, mainly due to a natural decline in users for the Westward Journey game [4][7]. Brand Advertising Segment - Sohu's brand advertising segment has been unprofitable for years, with revenues decreasing by 46.79% over the past five years, leading to significant cash burn [6]. - The company expects brand advertising revenue to fall to $17-$19 million in Q3, a 14-23% decline year-over-year, attributed to macroeconomic factors and loss of market share [7]. Cash Position and Investments - Sohu has maintained a strong balance sheet with no net debt and approximately $1 billion in cash following the sale of Sogou to Tencent [8]. - The company plans to allocate $150 million for a share repurchase program over two years, despite ongoing losses [8]. Competitive Landscape - Among Sohu's competitors, only two out of six companies are currently profitable, with Sohu having the largest R&D expenditures in its peer group [9][10]. - Sohu's gross margin stands at 73.69%, placing it in the middle compared to its competitors [11]. Valuation Metrics - Sohu's current Price/Sales (P/S) ratio is 0.84, indicating a 9.09% overvaluation, while the Price/Book (P/B) ratio suggests a 73.91% discount, with a fair share price estimated at $20.02 [13][14].

Exhibit 99.1 SOHU.COM REPORTS FIRST QUARTER 2024 UNAUDITED FINANCIAL RESULTS BEIJING, May 20, 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 first quarter ended March 31, 2024. First Quarter Highlights • Total revenues were US$139 million, down 14% year-over-year and 1% quarter-over-quarter. • Brand advertising revenues were US$16 million, down 29% year-over-year and 20% quart ...

BEIJING, Aug. 5, 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 second quarter ended June 30, 2024.Second Quarter HighlightsTotal revenues were US$172 million, up 13% year-over-year and 24% quarter-over-quarter.Brand advertising revenues were US$20 million, down 17% year-over-year and up 24% quarter-over-quarter.Online game revenues were US$147 million, up 24% y ...

BEIJING, July 22, 2024 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU), a leading Chinese online media, video and game business group, will report its second quarter 2024 unaudited financial results on Monday, August 5, 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, August 5, 2024 (7:30 p.m. Beijing/Hong Kong time, August 5, 2024) following the quarterly results announcement.Conference Call PreregistrationParticipants can reg ...

It has been about a month since the last earnings report for Sohu.com (SOHU) . Shares have added about 8.3% 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 Incurs Wider-Than-Expected Loss in Q1 on Lower R ...

Sohu.com Limited (NASDAQ:SOHU) Q1 2024 Results Conference Call May 20, 2024 7:30 AM ET Company Participants Huang Pu - IR Director Charles Zhang - Chairman, CEO Joanna Lv - CFO Dewen Chen - Changyou CEO Conference Call Participants Thomas Chong - Jefferies Alicia Yap - Citi Operator Ladies and gentlemen, thank you for standing by, and good evening. Thank you for joining Sohu's First Quarter 2024 Earnings Conference Call. [Operator Instructions] Today's conference call is being recorded. If you have any obje ...

Sohu.com Limited (SOHU) reported soft first-quarter 2024 results, with the bottom line missing the Zacks Consensus Estimate. 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 loss of $25 million or a loss of 76 ce ...