Sohu's revenue gains 10%
Internet portal and game operator Sohu said yesterday revenue rose 10 percent from a year ago to US$461 million on mobile gaming sales.
Online gaming sales surged 23 percent from a year ago to US$122 million, but brand advertising revenue declined 24 percent annually to US$86 million amid lackluster video ad and property ad sales. The company’s operating loss for the second quarter came to US$27 million.
Sohu’s online gaming unit’s monthly active user base more than tripled to 7.4 million while the total paying members in the quarter hit 2.5 million with the launch of a new mobile title Legacy TLBB in the second quarter.
Sohu’s Internet search services subsidiary Sogou plans to file an initial public offering to the US Securities and Exchange Commission as early as market conditions permit, a separate filing yesterday, without elaborating.