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Actionable news in SOHU: Inc., Reports Second Quarter 2017 Unaudited Financial Results

BEIJING, July 31, 2017 /PRNewswire/ -- Inc. (SOHU), China's leading online media, video, search and gaming business group, today reported unaudited financial results for the second quarter ended June 30, 2017.

Second Quarter Highlights

  • Total revenues were US$461 million1, up 10% year-over-year and 23% quarter-over-quarter.
  • Brand advertising revenues were US$86 million, down 24% year-over-year and up 6% quarter-over-quarter.
  • Sogou2 revenues were US$211 million, up 20% year-over-year and 30% quarter-over-quarter.
  • Online game revenues were US$122 million, up 23% year-over-year and 43% quarter-over-quarter.
  • Non-GAAP3 net loss attributable to Inc. was US$72 million, or US$1.85 loss per fully-diluted share.

Dr. Charles Zhang, Chairman and CEO of Inc., commented, "I am pleased that Sohu delivered better-than-expected revenue growth in the second quarter, driven by solid performance from Changyou and Sogou. Group revenues totaled US$461 million, up 10% year-over-year and 23% quarter-over-quarter. The highlight of the quarter was Legacy TLBB, our new mobile game that is a big hit and ranked as one of the top grossing games in China between its launch in mid-May and the end of the quarter. Sogou's financial results exceeded our prior guidance as its mobile search growth maintained strong momentum. Our brand advertising business performance was relatively soft, largely due to lackluster video ad sales. Nonetheless, for Sohu Video, we have been shifting our...