Sohu had revenue of $185 million in the third quarter of 2022 and a net loss of $22 million compared with the same period last year.
According to CTOnews.com news on November 14, Sohu today released its results for the third quarter ending September 30, 2022. The company reported revenue of $185 million in the third quarter, down 14% from a year earlier, a net loss of $22 million, a net profit of $12 million in the same period in 2021, and a net profit of $9 million in the previous quarter. Under non-GAAP, the net loss was $17 million, compared with a net profit of $17 million in the same period in 2021 and $12 million in the previous quarter. The company expects a full-year net loss of $13 million to $23 million in 2022.
Sohu earned $26 million from brand advertising and $149 million from online games in the third quarter, according to the financial report.
CTOnews.com learned that Zhang Chaoyang, founder, chairman and CEO of Sohu, said, "in the third quarter of 2022, despite the negative impact of the COVID-19 epidemic and the uncertainty of the macroeconomic environment, we continue to optimize our products, improve operational efficiency and improve our commercialization ability. Our net loss for the quarter was lower than previously expected, thanks to strict cost control and robust performance of online games."
From the perspective of the overall business, "Sohu media, we continue to promote the optimization of products and technology to enhance user experience." Sohu video, we continue to implement the 'twin-engine' strategy, with the help of leading live video technology, and high-quality content and activities, the development of scientific knowledge live broadcast. Relying on the differentiation advantage of Sohu product matrix, we continue to explore and improve the commercialization ability of Sohu media and Sohu video. The performance of online games is solid and its revenue is higher than expected. " Zhang Chaoyang said.
