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Sohu.com Q1 Profit Falls

Sohu.com Limited (SOHU), a Chinese online media company, on Monday posted a decline in earnings for the first quarter, reflecting a fall in revenues and a rise in the total operating expenses.

For the quarter ended in March, the Beijing-headquartered firm posted a net income of $2.66 million or $0.07 per share and ADS, compared with $49.19 million or $1.24 per share and ADS, reported for the same period a year ago.

Excluding items, earnings were at $9 million, compared with $37 million, reported a year ago.

Operating earnings were at $12.67 million, versus $50.78 million, on year-on-year basis.

Sohu.com posted its total operating expenses for the quarter at $131.63 million, compared with $124.43, reported last year.

The company's total revenues registered at $193.41 million, compared with $222.09 of the first quarter of 2021.

Moving ahead, for the second quarter, the Group expects its loss to be in the range of $18 million - $8 million, whereas adjusted loss is projected between $15 million - $5 million.

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