The following is a summary of the Sohu.com Limited (SOHU) Q4 2023 Earnings Call Transcript:
Financial Performance:
Sohu.com reported Q4 2023 total revenues of $141 million, a decrease of 12% YoY and 3% sequentially.
The company reported substantial net losses with a GAAP net loss of $13 million and a Non-GAAP net loss of $11 million.
For 2023 full year, revenues stood at $601 million, reflecting an 18% decrease from 2022, and a GAAP net loss of $66 million.
The company's online game revenues decreased by 5% YoY, and its brand advertising revenues experienced a significant decrease of 30% YoY.
For Q1 2024, Sohu anticipates lower brand advertising revenues and online game revenues than the previous year, and expects to record a net loss.
Business Progress:
Sohu.com's Media Portal worked on improving user experience through technology upgrades, product refinement, and expanded premium content offerings.
The company continued its Twin Engine strategy in the online video segment.
Despite facing cautious advertisers, the company began exploring diversified monetization opportunities.
The company maintained stable revenue in its online game business and invested in features to increase player engagement.
In 2024, the Board authorized an increase in Sohu's share purchase program, and the company plans to increase spending on marketing to foster product development.
More details: Sohu.com IR
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