Sohu's 2024 Q1 revenue of US$139 million
On May 20, 2024, Sohu (SOHU.US) announced its financial report for the first quarter of 2024. According to financial reports, Sohu's total revenue for the first quarter was US$139 million, of which brand advertising revenue was US$16 million and online gaming revenue was US$118 million.
Zhang Chaoyang, founder of Sohu, Chairman of the Board of Directors and CEO, said, “In the first quarter of 2024, despite seasonal effects, our revenue was in line with expectations, and our net loss was better than previously anticipated.”
Financial reports show that in the first quarter of 2024, Sohu's total revenue was US$139 million. Non-GAAP net loss attributable to Sohu was US$22 million. Meanwhile, according to Sohu's American Depositary Share Repurchase Plan with a total amount of up to 150 million US dollars, as of May 16, 2024, Sohu has repurchased 1726,718 shares of Sohu American Depositary Shares, with a total amount of about 17 million US dollars.
Looking at the overall business, “In terms of Sohu Media and Sohu Video, we continue to improve our products, optimize our algorithms, and continuously improve the user experience. We actively integrate products and resources to facilitate content generation, consumption and social distribution. At the same time, relying on our unique IP and differentiated advantages, we continue to host a variety of events to enhance user interaction, stimulate content co-creation, and obtain more opportunities for commercialization. The online gaming business performed steadily, and revenue was in line with expectations.” Zhang Chaoyang said.