Mobile ad income helps Sohu narrow net loss
Print Edition
ONLINE gaming and news portal Sohu said yesterday that its net loss shrank to US$5 million in the first quarter of this year from US$56 million a year earlier as mobile advertising income from online video and search units improved.
Revenue jumped 25 percent to US$455 million and the company’s online search unit, Sogou, also saw income climb 66 percent from the same period a year ago to US$116 million in the three months ended on March 31, according to a stock exchange filing.
The company’s online gaming income rose 13 percent year on year and contributed US$185 million to overall sales.
“As our gaming portfolio is gradually maturing, our main focus is to bring out an abundant and diversified mix of new games, especially mobile games, to the market,” Sohu Chairman and CEO Charles Zhang said in a statement.
Its online video unit posted a 57 percent jump in advertising income year on year to US$50 million.
Sohu expects total revenue at between US$460 million and US$490 million in the second quarter of this year.
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