Sogou Inc. (SOGO) Misses Q3 EPS by 15c
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Sogou Announces Third Quarter 2020 Results
November 16, 2020 12:30 AM ESTBEIJING, Nov. 16, 2020 /PRNewswire/ -- Sogou Inc. (NYSE: SOGO) ("Sogou" or "the Company"), an innovator in search and a leader in China's internet industry, today announced its unaudited financial results for the third quarter, ended September 30, 2020.
Total revenues[1]Â were $216.7 million, a 31.2% decrease year-over-year. The decrease was primarily driven by uncertainties with respect to Sogou's business policies among certain advertisers as a result of the previously-announced proposal by Tencent Holdings Limited ("Tencent") to take Sogou private, as well as reduced traffic acquisition activity.
Search and search-related revenues were $192.5 million, a 33.2%... More