Sohu, Sogou drop on bleak rev forecasts, drag Changyou
05/11/2018 11:28
** Sohu.com's shares SOHU.O down 5.62 pct at $16.79
premarket
** Chinese internet company's Q4 revenue forecast falls
short of estimates, expects rev between $465 mln and $495 mln
vs. consensus view of $543.48 mln, as per IBES data from
Refinitiv urn:newsml:reuters.com:*:nPn8Q6wJMa
** Q3 rev slips 11 pct, but marginally beats estimates
** Sohu's online search unit, Sogou Inc SOGO.N , drops 6.5
pct to $5.9; Sees Q4 revenue in the range of $292 mln and $307
mln, below analysts expectation of $343.89 mln urn:newsml:reuters.com:*:nPnc2jFsGa
** Sogou, which went public last year, also posted Q3
revenue below expectations
** The declines weigh on Changyou.com Ltd CYOU.O , Sohu's
online game developing unit, which posted upbeat Q3 results and
provided a healthy Q4 forecast; Changyou's shares dip 0.8 pct to
$14.50 urn:newsml:reuters.com:*:nPnwTp1ga
** Sino-U.S. trade-related concerns have been one of the
factors that have pressured U.S.-listed Chinese shares for most
parts of the year
** As of Friday's close, SOHU shares have more than halved
in value this year, SOGO down 45.5 pct, CYOU fell 41.1 pct
(Reporting by Shreyashi Sanyal in Bengaluru)
((RM: Shreyashi.Sanyal.thomsonreuters.com@reuters.net))