Sohu.com: Eyes worst day in nearly two decades on Q2 rev miss, dour forecast
05/08/2019 18:53
(Adds Sogou, Changyou.com)
** Sohu.com Ltd's shares SOHU.O extend premarket losses,
now down 23.7% at $9.32 in afternoon trading - eyes worst day in
over 18-1/2 years at current levels
** Stock also touches its lowest level in over 16 years
** Chinese internet co posts Q2 revenue below analysts' est.
and a bigger-than-expected loss, hurt by lower revenue from
portal and video advertising urn:newsml:reuters.com:*:nPncbVzwja
** SOHU also forecasts Q3 revenue between $445 mln and $470
mln, below estimates
** Sohu's online search unit, Sogou Inc SOGO.N , drops
11.5% to $3.41; forecasts Q3 revenue between $304 mln and $314
mln, below analysts expectation of $317.9 mln
** Sohu's online game developing unit Changyou.com Ltd
CYOU.O falls ~14% at 6.47 after missing Q2 revenue
** Including session's losses, SOHU down ~46% YTD, SOGO down
~35%, CYOU down~28 YTD
(Reporting by Arjun Panchadar and Vibhuti Sharma in Bengaluru)