Sohu.com Slips To Loss In Q3 - Quick Facts

(RTTNews) - Sohu.com Inc. (SOHU), a China-based web-portal and online game developer, reported that GAAP net loss attributable to the company for the third quarter of 2013 was $64.19 million, compared to net income of $25.88 million in the same quarter last year. On a per share basis, net loss was $1.69 per share, compared to net income of $0.63 per share last year.

The latest-quarter result included the company's proportionate share, as the controlling shareholder of Sogou, of a charge of about $82 million relating to the amount of a special dividend paid by Sogou to noncontrolling preferred shareholders of Sogou on September 17, 2013.

Before deducting the share of net income pertaining to the Non-controlling Interest, GAAP net income for the third quarter of 2013 was $41 million, down 20% year-over-year. Non-GAAP net income for the third quarter of 2013 was $44 million, down 24% year-over-year.

Non-GAAP net income attributable to the company for the third quarter of 2013 was $19.84 million or $0.51 per share, down from $29.50 million or $0.77 per share last year.

Total online advertising revenues, which include revenues from brand advertising and search and others businesses for the third quarter of 2013, were $177 million, up 56% year-over-year.

Online game revenues for the third quarter of 2013 were $161 million, up 7% year-over-year. The year-over-year increase was mainly due to the growth momentum of Wartune in the third quarter of 2013, and revenues from the new MMO game Dou Po Cang Qiong.

Total revenues for the third quarter of 2013 were $368 million, up 29% year-over-year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.45 per share and revenues of $364.74 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter of 2013, the company expects Non-GAAP net loss attributable to the company to be between $11 million and $13 million, and non-GAAP loss per share of $0.30 - $0.35.

Before deducting the share of non-GAAP net income pertaining to the Non-Controlling interest, non-GAAP net loss to be between $6 million and $10 million for the fourth-quarter.

Total revenues for the fourth-quarter are expected to be between $378 million and $390 million.

Analysts expect the company to report earnings of $0.48 per share and revenues of $369.85 million for the fourth-quarter.