Sohu.com Inc. (NASDAQ: SOHU), China’s leading online media, search, gaming, community and mobile service group, reported total revenues were US$368 million, up 29% year-over-year and 9% quarter-over-quarter.
Brand advertising revenues were US$125 million, up 60% year-over-year and 25% quarter-over-quarter. Sogou[1] revenues were US$57 million, up 53% year-over-year and 14% quarter-over-quarter. Online game revenues were US$161 million, up 7% year-over-year and down 4% quarter-over-quarter.
[1] Sogou operates the search and others business and offers Internet value-added services (“IVAS”) with respect to Web games developed by third-party developers. The search and others business includes search and Sogou Web Directory. In the statements of operations, revenues from search and Sogou Web Directory are recorded as “Search and others” revenue, and revenues from IVAS are recorded as “Others” revenue.
Dr. Charles Zhang, Chairman and CEO of Sohu.com Inc. commented, “The third quarter of 2013 sets a strategic milestone for the Sohu Group. On September 16, we formed a partnership with Tencent whereby Tencent invested in our search subsidiary Sogou. This partnership does not only bring New Sogou to be a credible, fastest growing contender in both PC and mobile search, secures a solid top 3 market position, but also enables Sogou to bring even more users, traffic and other synergies to our various businesses and enhances the overall competitiveness of the Sohu Group.”
Source: Streetinsider.com
