Sohu.com Logs Lower Profit In Q2

Chinese Internet company Sohu.com Limited (SOHU) on Monday reported net income from continuing operations of $8.67 million, or $0.25 per ADS for the second quarter, lower than $21.85 million or $0.55 per ADS a year ago.

Excluding one-time items, earnings were $12.44 million, or $0.36 per ADS, compared with $24.8 million or $0.63 per ADS last year.

Quarterly revenues were $194.78 million, down 5% year-over-year, impacted primarily by decline in Brand advertising revenues by 32%.

Looking forward, the company expects Brand advertising revenues to be between $25 million and $28 million, an annual decrease of 17%-26%, and Online game revenues to be between $138 million and $148 million; a decrease of 11%-17% year-over-year.

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