Sohu.com Inc ( (SOHU) ) has released its Q4 earnings. Here is a breakdown of the information Sohu.com Inc presented to its investors.
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Sohu.com Inc, a prominent Chinese online media platform and game business group, has released its unaudited financial results for the fourth quarter and fiscal year of 2024. The company operates in the digital media and gaming sectors, providing a diverse array of content and gaming experiences for Chinese users.
In the latest earnings report, Sohu.com reported a total revenue of $135 million for the fourth quarter, reflecting a 5% decrease year-over-year and an 11% decline from the previous quarter. The fiscal year 2024 ended with total revenues of $598 million, remaining flat compared to the previous year. Notably, the company’s online game revenue grew by 5% annually, reaching $502 million, while brand advertising revenues fell by 17%.
Key financial metrics reveal a GAAP net loss of $21 million for the fourth quarter, compared to a $13 million loss in the same quarter of 2023. For the entire fiscal year, the GAAP net loss was $100 million, an increase from $66 million in 2023. Despite these losses, the company’s cash and investments totaled approximately $1.2 billion by the end of 2024, indicating strong liquidity.
As Sohu.com navigates the challenges in its advertising segment, the company remains focused on enhancing its media platform through product refinement and algorithm optimization. The gaming division shows promise with the continued development of new games and rejuvenation of existing titles, which have contributed to increased player engagement and monetization potential.
Looking forward, Sohu’s management anticipates changes in brand advertising and online game revenues in the upcoming quarter, with projections indicating potential declines. The company remains committed to leveraging its comprehensive web properties and gaming portfolios to attract users and enhance revenue streams, amidst an evolving digital landscape.
