The following is a summary of the Sohu.com Limited (SOHU) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Sohu.com reported total revenues of $139 million in Q1 2024, showing a decrease of 14% year-over-year and 1% quarter-over-quarter.

• Brand advertising revenues were at $16 million, down by 29% year-over-year and 20% quarter-over-quarter.

• The company's online gaming revenues stood at $118 million, indicating a 9% year-over-year drop but a 3% quarter-over-quarter increase.

• Both GAAP and Non-GAAP net loss attributable increased when compared to the respective periods of the previous year and the previous quarter.

Business Progress:

• Sohu has made upgrades across Sohu Media and Sohu Video in terms of product improvements, algorithm upgrades, and user experience.

• Sohu News and Sohu Video apps have been integrated to boost content distribution and consumption alongside various offline promotions to spur user engagement.

• The company is diversifying its game portfolio, producing various types, such as RPGs, sports games, casual games, etc.

• 1.7 million ADS were repurchased under their share repurchase program, costing approximately $17 million.

• For Q2 2024, online game revenues are expected to be between $133 million and $143 million, with anticipated increased capital expenditure due to AI platform development.

More details: Sohu.com IR

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