Sohu.com Q2 Loss Widens - Quick Facts

(RTTNews) - Sohu.com Limited (SOHU), China-based online media, video, search and gaming business group, reported that its second-quarter net loss attributable to the company widened to $79.93 million or $2.04 per ADS from $52.9 million or $1.35 per ADS in the prior year.

Non-GAAP net loss attributable to the company for the second quarter was US$77 million, or US$1.96 per ADS.

Excluding the impact of the additional accrual of withholding income tax, GAAP net income attributable to Sohu.com Limited for the second quarter of 2020 was US$8 million, or US$0.20 per ADS. Non-GAAP net income attributable to the company for the second quarter of 2020 was US$11 million, or US$0.27 per ADS. Analysts polled by Thomson Reuters expected the company to report a loss of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the second quarter of 2020 were US$421 million, down 9% year-over-year. Analysts expected revenues of $433.41 million for the quarter.

Total online advertising revenues, which include revenues from the brand advertising and search and search-related advertising businesses, for the second quarter of 2020 were US$279 million, down 13% year-over-year.

For the third quarter of 2020, Sohu estimates brand advertising revenues to be between US$37 million and US$42 million.It implies an annual decrease of 9% to 20% and a sequential decrease of 3% to a sequential increase of 11%.

Excluding the profit/loss generated by Sogou, non-GAAP net loss attributable to Sohu.com is expected to be between US$10 million and US$20 million; and GAAP net loss attributable to the company is anticipated to be between US$15 million and US$25 million.