Sohu's Q1 revenue of $162 million in 2023 fell 16% compared with the same period last year, and the net loss was better than previously expected.

CTOnews.com May 15 news, Sohu today released the first quarter of 2023 financial results as of March 31.

In the first quarter of this year, Sohu's total income was $162 million (CTOnews.com Note: currently about 1.128 billion yuan), down 16 per cent from a year earlier and up 1 per cent from a month earlier. Of this total, brand advertising revenue was $23 million (currently about 160 million yuan), down 5 per cent from a year earlier and up 22 per cent from a month earlier, while online game revenue was $129 million (currently about 898 million yuan), down 18 per cent from a year earlier and up 7 per cent from a month earlier.

According to the financial report, Sohu's total income in the first quarter of 2023 was $162 million, which was attributed to Sohu's non-GAAP net loss of $13 million, which was better than previously expected. Sohu had estimated a loss of between $15 million and $25 million in the first quarter.

Zhang Chaoyang, founder, chairman and chief executive of Sohu, said: "in the first quarter of 2023, despite seasonal effects, our brand advertising revenue reached the upper limit of guiding expectations, and the net loss was better than previously expected."