Sohu.com CEO Emphasizes Ad Dollars, Content Expansion Despite Q2 Revenue Decline
Portfolio Pulse from Anusuya Lahiri
Sohu.com Limited reported a 22% YoY decline in Q2 2023 revenue to $152.1 million, missing the consensus of $153.7 million. Brand advertising revenues and online game revenues also declined. However, the non-GAAP gross margin expanded by 300 bps YoY to 76%. The company held $1.4 billion in cash and equivalents. Sohu CEO Charles Zhang emphasized the company's 'Twin Engine' strategy and its potential to gain more advertising dollars.
August 07, 2023 | 1:06 pm
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Sohu.com reported a decline in Q2 2023 revenue, missing consensus estimates. However, the company's CEO emphasized its strategy and potential for more advertising dollars.
Sohu.com's reported decline in revenue and missed consensus estimates could negatively impact its stock price in the short term. However, the CEO's emphasis on the company's strategy and potential for more advertising dollars could mitigate some of this impact.
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