Published on 15 Nov 2022 on Zacks via Yahoo Finance

SOHU's Q3 Loss Narrower Than Expected, Revenues Decline

Sohu.com Limited SOHU reported relatively soft third-quarter 2022 results with a year-over-year decrease in revenues and earnings due to lower contributions from both the brand advertising sector and online games. The company aims to focus on refining its products and improving operational efficiency in the impending quarters.

Quarter Details

Net loss from continuing operations in the quarter was $21.6 million or a loss of 63 cents per ADS against net income of $12.3 million or 31 cents per ADS in the year-ago quarter. The significant decline in the bottom line was primarily attributable to top-line contraction and higher operating expenses in the reported quarter and income from divested operations in the year-earlier quarter. Non-GAAP net loss in the quarter was $17 million or a loss of 50 cents per ADS, narrower than the Zacks Consensus Estimate of a loss of 72 cents.