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Sohu.com Q1 Loss Narrows - Quick Facts

Sohu.com Limited (SOHU), China-based online media, video, search and gaming business group, reported that its first-quarter net loss attributable to the company narrowed to US$20 million or US$0.52 per ADS, from US$54 million in the first quarter of 2019.

Non-GAAP net loss attributable to the company for the first quarter of 2020 was US$18 million or US$0.47 per ADS, compared to a net loss of US$52 million in the first quarter of 2019.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.72 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the first quarter of 2020 were US$436 million, up 6% year-over-year. Analysts expected revenues of $427.85 million for the quarter.

Total online advertising revenues, which include revenues from the brand advertising and search and search-related advertising businesses, for the first quarter of 2020 were US$263 million, down 5% year-over-year and 17% quarter-over-quarter.

For the second quarter of 2020, Sohu estimates total revenues to be between US$410 million and US$445 million.

Excluding the expected accrual during the second quarter of withholding income tax of approximately US$88 million, non-GAAP net results attributable to Sohu.com is expected to be between a net loss of US$5 million and a net income of US$5 million.

Non-GAAP results per ADS for the second-quarter is expected to be between a net loss of US$0.13 per ADS and a net income of US$0.13 per ADS.

The company expects quarterly GAAP net loss attributable to Sohu.com to be between nil and US$10 million, and GAAP loss per fully-diluted ADS to be between nil and US$0.25.

Excluding the profit/loss generated by Sogou, and further excluding the expected accrual of withholding income tax, the company projects quarterly non-GAAP net income attributable to Sohu.com Limited to be between nil and US$10 million; and GAAP net income/loss attributable to Sohu.com to be between a net loss of US$4 million and a net income of US$6 million.

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