Q2 2024 Sohu.com Ltd Earnings Call Transcript
Key Points
- Sohu.com Ltd (SOHU) hit the high end of prior guidance in brand advertising revenues.
- Online game revenues exceeded expectations, showing strong performance.
- Total revenues for Q2 2024 were $172 million, up 13% year over year and 24% quarter over quarter.
- Innovative marketing campaigns and events have strengthened brand influence and monetization opportunities.
- Sohu.com Ltd (SOHU) has repurchased 2.3 million ADS for approximately $26 million, indicating a commitment to shareholder value.
- GAAP net loss attributable to Sohu.com Ltd (SOHU) was $38 million, compared to a net loss of $21 million in the same quarter last year.
- Non-GAAP net loss attributable to Sohu.com Ltd (SOHU) was $34 million, compared to a net loss of $18 million in the same quarter last year.
- Brand advertising revenues were down 17% year over year.
- The overall macroeconomic situation is challenging, with advertisers remaining cautious in their spending.
- Guidance for Q3 2024 indicates a potential sequential decline in both brand advertising and online game revenues.
Ladies and gentlemen, thank you for standing by, and good evening. Thank you for joining Sohu's second-quarter-2024 earnings conference call. (Operator Instructions) Today's conference call is being recorded. If you have any objections, you may disconnect at this time.
I would now like to turn the conference over to your host for today's conference call, Huang Pu, Investor Relations Director of Sohu. Please go ahead.
Thanks, operator. Thank you for joining us to discuss Sohu's second-quarter-2024 results. On the call are Chairman and the Chief Executive Officer, Dr. Charles Zhang; CFO, Joanna Lv; and the Vice President of Finance, James Deng. Also with us are Changyou's CEO, Dewen Chen; and the CFO, Yaobin Wang.
Before management begins their prepared remarks, I would like to remind you of the company's Safe Harbor statements in connection with today's conference call. Except for the historical information contained herein, the matters discussed on the call may contain forward-looking
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