Sohu Q3 2008 Net Profit Up 316%
Xinhua-PRNews, 10/27/08
Chinese online media, communications, search, online games and wireless value-added services (WVAS) firm Sohu (Nasdaq: SOHU) has announced its unaudited financial results for Q3 2008, with net revenues reaching USD 120.7 mln, up 134% year-on-year and 18% quarter-on-quarter.
GAAP net income for the quarter came to USD 40.3 mln, up 316% YoY and up slightly over the previous quarter.
Advertising revenues for the quarter were USD 51.1 mln, up 62% year-on-year and 18% quarter-on-quarter, consisting of USD 49.4 mln in brand advertising, up 66% year-on-year and 18% quarter-on-quarter, and USD 1.7 mln in sponsored search.
Online game revenues were USD 54.6 mln, up 330% year-on-year and 14% quarter-on-quarter. Of this total, its self-developed MMORPG Tian Long Ba Bu generated revenue of USD 51.0 mln, up 12% quarter-on-quarter.
Non-advertising revenues for the quarter were USD 69.5 mln, up 248% year-on-year and 19% quarter-on-quarter.
The company also announced details of a share repurchase program, whereby it will repurchase up to a total of USD 150 mln of its outstanding shares of common stock through to the end of 2009.
Sohu estimates total revenues for the fourth quarter of 2008 to be between USD 118 mln and USD 122 mln.
To see Sohu's full earnings report, please click here.
Keywords: online advertising profit Internet MMORPG online media Q3 2008 revenue Tian Long Ba Bu wireless WVAS fiscal report online gaming online search portal
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