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Sohu Q4 2008 Net Profits Up 274%

Sohu, 2/09/09

Chinese online media, communications, search, online games and wireless value-added services company Sohu (Nasdaq: SOHU) has issued its earnings report for Q4 2008, with total revenues reaching USD 121.6 mln, up 86% year-on-year. 2008 full-year net revenues rose 230% to USD 429.1 mln, an increase of 127% over the 2007 figure.

Net income for the quarter came to USD 56.6 mln, up 274% YoY and 24% QoQ. Net income for fiscal year 2008 increased 354% to USD 158.6 mln.

Advertising revenues for the quarter were USD 46.6 mln, up 38% year-on-year, consisting of USD 45.0 mln in brand advertising, up 40% year-on-year, and USD 1.6 mln in sponsored search.

Fourth quarter online game revenues were USD 58.4 mln, 2.4 times that of fourth quarter 2007 and up 7% quarter-on-quarter. Of this, Sohu's in-house developed MMORPG Tian Long Ba Bu generated revenues of USD 53.5 mln, up 5% quarter-on-quarter and 2.4 times that of fourth quarter 2007.

Non-advertising revenues in Q4 were USD 75.0 mln, 2.4 times that of fourth quarter 2007 and up 8% quarter-on-quarter.

For full year 2008, advertising revenues were USD 175.9 mln, up 48% year-on-year, of which brand advertising revenues contributed USD 169.3 mln, up 51% year-on-year, and USD 6.6 mln in sponsored search revenues. Online game revenues were USD 201.8 mln, 4.8 times that of fiscal year 2007. Tian Long Ba Bu generated revenue of USD 188.9 mln, 5.4 times that of fiscal year 2007. Non-advertising revenues were USD 253.1 mln, 3.6 times that of fiscal year 2007.

Sohu estimates total revenues for the first quarter of 2009 to be between USD 111.5 mln and USD 115.5 mln.

To view Sohu's full earnings report, please click here.

Keywords: online advertising Internet MMORPG online media Q4 2008 revenue Sohu Tian Long Ba Bu fiscal report online gaming online search profit WVAS portal

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