Sohu.com Q2: 13% Topline Growth, Strong Online Game Sales, Increased Mobile Users
Portfolio Pulse from Anusuya Lahiri
Sohu.com Limited (NASDAQ: SOHU) reported a 13% year-over-year revenue growth for Q2 2024, driven by strong online game sales and increased mobile users. However, the company faced a decline in brand advertising revenues and adjusted gross margin. Sohu projects a decrease in Q3 brand advertising and online game revenues, with an expected adjusted net loss. Despite these challenges, SOHU stock gained 24% over the past year.
August 05, 2024 | 10:53 am
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Sohu.com Limited reported a 13% YoY revenue growth for Q2 2024, driven by strong online game sales and increased mobile users. However, the company faced a decline in brand advertising revenues and adjusted gross margin. The Q3 outlook projects further declines in brand advertising and online game revenues, with an expected adjusted net loss.
While Sohu.com reported strong revenue growth driven by online game sales, the decline in brand advertising revenues and adjusted gross margin, along with a negative Q3 outlook, suggests mixed short-term impacts. The stock has gained 24% over the past year, but the recent decline in share price and projected losses may neutralize the positive growth news.
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