Sohu.com, Inc. (SOHU) Misses Q2 EPS by 13c

August 5, 2019 6:21 AM EDT

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Sohu.com, Inc. (NASDAQ: SOHU) reported Q2 EPS of ($1.27), $0.13 worse than the analyst estimate of ($1.14). Revenue for the quarter came in at $475 million versus the consensus estimate of $481.58 million.

Dr. Charles Zhang, Chairman and CEO of Sohu.com Limited, commented, "Under the current challenging macroeconomic environment, our total revenues stayed largely in-line with our prior guidance. Our bottom line performance, excluding the charge for impairment of assets recognized by Changyou related to its cinema advertising business, met the high-end of our prior guidance. This was mainly driven by the continued cost savings that we were able to achieve at Sohu Video, and the solid performance of our online game business. Sohu Media is making a comeback and living up to its reputation as a top tier media platform. We have been hosting high-quality events, generating and distributing premium content, and strengthening our core competitiveness and credibility among media brands. Meanwhile, Sohu Video continues to provide users with unique, high-quality dramas and shows. We have seen the positive effects of this differential development strategy and stable improvements in monetization at both Sohu Media and Sohu Video. We hope to see further progress in the coming quarters. In the second quarter of 2019, Sogou achieved steady growth in its core search business while Sogou Mobile Keyboard further expanded its user base and contributed a larger portion to total revenues. As for Changyou, both its revenue and profit exceeded expectations, excluding the aforementioned charge for impairment. Changyou is demonstrating a stable profitability while developing more games to provide a diversified product portfolio."

GUIDANCE:

Sohu.com, Inc. sees Q3 2019 EPS of ($0.55)-($0.80), versus the consensus of ($0.98). Sohu.com, Inc. sees Q3 2019 revenue of $445-470 million, versus the consensus of $499 million.

For earnings history and earnings-related data on Sohu.com, Inc. (SOHU) click here.



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