Leidi.com Lei Jianping August 7th
Sohu Corporation (NASDAQ: SOHU) announced today its unaudited financial report for the second quarter of 2023 ending June 30, 2023. The financial report shows that Sohu's revenue in the second quarter of 2023 will be US$152 million, of which brand advertising revenue will be US$24 million and online game revenue will be US$118 million, both of which meet expectations.
Zhang Chaoyang, founder, chairman and CEO of Sohu, said: "In the second quarter of 2023, our business performance was stable, and both revenue and net profit met expectations. In terms of Sohu media, we continue to improve our products and technologies to provide users with a large number of Real-time and reliable content improves user experience. For Sohu Video, we continue to implement the 'dual-engine' strategy to continuously enrich long-form and short-form content and improve social distribution."
Zhang Chaoyang pointed out, "With the help of advanced live broadcasting technology and Sohu's product matrix, we have organized a number of traditional and innovative marketing activities to generate rich content while attracting a large number of users, and continue to explore business opportunities and obtain advertising budgets. Online game business performance Robust, with revenue in line with previous expectations."
Sohu's Q2 revenue reached US$152 million
Sohu's total revenue for the second quarter of 2023 was US$152 million, down 22% from the same period in 2022 and down 6% from the previous quarter.
Sohu's brand advertising revenue in the second quarter of 2023 was US$24 million, a decrease of 4% from the same period in 2022 and an increase of 6% from the previous quarter.
Sohu's online game revenue in the second quarter of 2023 was US$118 million, a decrease of 25% from the same period in 2022 and a decrease of 9% from the previous quarter. The year-over-year and quarter-over-quarter declines were mainly due to the natural decline in revenue from older games.
Sohu's Q2 gross profit was US$115 million and the gross profit margin was 76%
Sohu's gross profit in the second quarter of 2023 will be US$115 million, with a gross profit margin of 76%.
Sohu's Q2 expenses increased by 5% year-on-year to US$138 million
Sohu's operating expenses in the second quarter of 2023 were US$138 million, an increase of 5% from the same period in 2022 and a decrease of 1% from the previous quarter. Non-GAAP operating expenses were $138 million, an increase of 6% from the same period in 2022 and a decrease of 1% from the previous quarter. The year-on-year increase in operating expenses was mainly due to the increase in Changyou's product research and development expenses.
Sohu Q2 operating loss of 23 million US dollars
Sohu's GAAP operating loss for the second quarter of 2023 was US$23 million, compared with an operating profit of US$10 million for the same period in 2022 and an operating loss of US$18 million for the previous quarter.
Sohu's GAAP net loss attributable to the company in the second quarter of 2023 was US$21 million, compared with a net profit of US$9 million in the same period in 2022 and a net loss of US$18 million in the previous quarter.
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