The following is a summary of the Sohu.com Limited (SOHU) Q3 2024 Earnings Call Transcript:
Financial Performance:
Sohu.com reported total revenues of $152 million, a 5% increase year-over-year.
Brand advertising revenues decreased by 15% year-over-year to $19 million.
Online game revenues rose by 9% year-over-year, reaching $128 million.GAAP net loss attributable to Sohu.com Limited was $16 million, compared to a net loss of $14 million in the same quarter last year.
Non-GAAP net loss was $12 million, down from a net loss of $10 million in the third quarter of the previous year.
Business Progress:
Sohu Media and Sohu Video continued to refine products and improve user experience, hosting events like the 2024 autumn convention of Sohu Video influencers.
Changyou, the online gaming segment, exceeded revenue expectations due to strong performances from games like TLBB PC.
Sohu announced an extension of its share purchase program up to November 2026, having repurchased 3.4 million ADS for approximately $42 million.
Opportunities:
Continued investment in unique marketing events and collaborations, like the '2024 Dream Concert' in South Korea which catered to a strong fanbase of K-pop in China, creating significant engagement and discussion.
Commitment to the expansion of game titles and updates like the upcoming expansions for TLBB series and New Westward Journey aiming to keep player engagement high.
Risks:
Advertising market challenges persist, impacted by a softening economy, as reflected by a consistent decline in brand advertising revenues.
Forecasts indicate potential further declines in online gaming revenues, with anticipated decreases in both annual and sequential comparisons for the next quarter.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
