Sohu.com swings to Q4 loss, shares fall
21/02/2023 20:13
** U.S.-listed shares of Chinese internet advertising and
game company Sohu.com Ltd SOHU.O fall ~4% to $14.92
** SOHU reports a Q4 adj net loss of $2 mln compared to a
profit of $200,000 the year before
** Total Q4 revenue falls 17% to $160 million
** For Q1 2023, expects brand advertising revenues
between $20 mln and $23 mln; implying an annual drop of 3%-16%
** Sees online game revenues for Q1 between $121 mln and
$131 mln; which reflects an annual drop of 17% to 23%
** However, brokerage Jefferies expects SOHU to
experience better growth for ads in FY23 from the year earlier
** Stock is up ~9% YTD
(Reporting by Anirban Chakroborti in Bengaluru)
((Anirban.Chakroborti@thomsonreuters.com;))