Sohu announces Q1 2023 results: revenue of $162 million, loss better than expected

Tech 2023-05-15 14:25:38 Source: Network

On May 15th, Sohu Company released its financial report for the first quarter of 2023. According to the financial report, Sohu's total revenue in the first quarter was $162 million, of which brand advertising revenue was $23 million and online gaming revenue was $129 million

On May 15th, Sohu Company released its financial report for the first quarter of 2023. According to the financial report, Sohu's total revenue in the first quarter was $162 million, of which brand advertising revenue was $23 million and online gaming revenue was $129 million. The non US GAAP net loss attributable to Sohu Company was $13 million, which was better than previously expected. Previously, Sohu estimated a loss of between $15 million and $25 million in the first quarter.

Zhang Chaoyang, founder, chairman of the board and CEO of Sohu, said, "In the first quarter of 2023, despite seasonal impacts, our brand advertising revenue still reached the upper limit of guidance expectations, with a net loss better than previously expected

From an overall business perspective, In terms of Sohu Media, we further improve operational efficiency, focus on optimizing products and algorithms, and enhance user experience. We closely monitor market trends and provide innovative marketing solutions for advertisers. In terms of Sohu Video, we continue to develop original content for both short and long videos under the 'dual engine' strategy. Taking advantage of the product matrix, we continuously integrate resources and actively explore diversified business opportunities. Online games this quarter The performance is stable, and its revenue meets previous expectations Zhang Chaoyang said.

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