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Sohu Q2 Profits Up 604% YoY

Sohu Press Release, 7/28/08

Chinese online media, communication, search, online gaming and wireless value-added services provider Sohu (Nasdaq: SOHU) has announced its unaudited financial results for Q2 2008, with total revenues reaching USD 102 mln, up 162% year-on-year and 20% quarter-on-quarter.

Net income for the quarter came to USD 40.2 mln, up 604% YoY and 86% QoQ.

Advertising revenues were USD 43.4 mln, up 53% year-on-year and 25% quarter-on-quarter. Of this, brand advertising revenues for the quarter contributed USD 41.7 mln, up 57% year-on-year and 26% quarter-on-quarter, and sponsored search contributed USD 1.7 mln.

Non-advertising revenues were USD 58.6 mln, up 452% year-on-year and 17% quarter-on-quarter.

Online games revenues were USD 47.9 mln, up 11.5 times year-on-year and 17% quarter-on-quarter. Revenue from its self-developed MMORPG Tian Long Ba Bu was up 17% quarter-on-quarter to USD 45.5 mln.

In addition, Sohu announced it plans to list its online games subsidiary, Changyou, although the size of the listing was not revealed.

The company estimates Q3 2008 revenues will be between USD 112 mln to USD 116 mln, with advertising revenues of USD 48.5 mln to USD 50.5 mln.

Keywords: fiscal report online advertising mobile advertising Changyou spin-off Internet MMORPG online gaming online media Q2 2008 Sohu Tian Long Ba Bu wireless IPO SP WVAS

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