Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen West Window old clues delivery! CTOnews.com November 13 news, Sohu today announced the third quarter of 2023 financial report. Sohu's third-quarter revenue was $145 million (CTOnews.com notes: currently about 1.059 billion yuan), down 22% year-on-year and 4% month-on-month, according to the financial report.

Among them, brand advertising revenue was $22 million (currently about 161 million yuan), down 14% year-on-year and 8% month-on-month; online game revenue was $117 million (currently about 854 million yuan), down 21% year-on-year and 1% month-on-month.

Sohu also announced a two-year share buyback program totaling up to $80 million.

Chaoyang Zhang, founder, chairman and CEO of Sohu, said: "In the third quarter, we continued to optimize our products and improve operational efficiency. Based on this, revenue and net profit for the quarter were in line with previous expectations. "

According to the financial report, in the third quarter of 2023, Sohu's non-GAAP net loss was $10 million (currently about RMB73 million), compared with a net loss of $17 million (currently about RMB124 million) in the same period last year, narrowing sharply year-on-year.

Zhang Chaoyang said: "Overall business, Sohu media, we continue to improve products and enhance user experience. In terms of Sohu video, under the 'dual engine' strategy, we focus on the production and distribution of engaging Short Video content and live broadcasts. This helps us further increase user stickiness and their social interaction. At the same time, we continue to explore diversified commercialization opportunities thanks to unique content marketing campaigns and differentiated competitive advantages. In terms of online games, we continued to introduce new content and operational activities, and game revenue remained stable. "

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