Sohu com : 2024 Q3 Income Statement

SOHU

SOHU.COM LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)

Three Months Ended

Sep. 30, 2024

Jun. 30, 2024

Sep. 30, 2023

Revenues:

18,677

19,853

22,087

Brand advertising

$

$

$

Online games

127,721

146,997

117,049

Others

5,594

5,483

6,294

Total revenues

151,992

172,333

145,430

Cost of revenues:

Brand advertising (includes share-based compensation

expense of nil, $1, and $15, respectively)

17,040

15,904

18,745

Online games (includes share-based compensation

20,292

35,588

15,039

expense of nil, nil, and $18, respectively)

Others

2,283

4,974

687

Total cost of revenues

39,615

56,466

34,471

Gross profit

112,377

115,867

110,959

Operating expenses:

Product development (includes share-based

compensation expense of $6, $10, and $280,

respectively)

62,231

65,209

67,749

Sales and marketing (includes share-based compensation

48,494

83,936

53,040

expense of $9, $10, and $39, respectively)

General and administrative (includes share-based

compensation expense of $29, $-421, and $358,

14,692

11,012

10,801

respectively)

Total operating expenses

125,417

160,157

131,590

Operating loss

(13,040)

(44,290)

(20,631)

Other income, net

3,635

5,572

10,869

Interest income

9,074

9,561

11,519

Exchange difference

(988)

231

(478)

Income/(loss) before income tax expense

(1,319)

(28,926)

1,279

Income tax expense

15,028

8,731

15,340

Ne loss from continuing operations

(16,347)

(37,657)

(14,061)

Net income from discontinued operations, net of tax 6

-

-

35,426

Net income/(loss)

(16,347)

(37,657)

21,365

Less: Net loss from continuing operations attributable

-

-

(2)

to the noncontrolling interest shareholders

Net loss from continuing operations attributable to

(16,347)

(37,657)

(14,059)

Sohu.com Limited

Net income from discontinued operations attributable to

-

-

35,426

Sohu.com Limited

Net income/(loss) attributable to Sohu.com Limited

(16,347)

(37,657)

21,367

Basic net loss from continuing operations per share/ADS

attributable to Sohu.com Limited7

$

(0.52)

$

(1.16)

$

(0.41)

Basic net income from discontinued operations per

$

-

$

-

$

1.04

share/ADS attributable to Sohu.com Limited

Basic net income/(loss) per share/ADS attributable to

$

(0.52)

$

(1.16)

$

0.63

Sohu.com Limited

Shares/ADSs used in computing basic net income/(loss) per

31,729

32,492

34,190

share/ADS attributable to Sohu.com Limited

Diluted net loss from continuing operations per share/ADS

$

(0.52)

$

(1.16)

$

(0.41)

attributable to Sohu.com Limited

Diluted net income from discontinued operations per

$

-

$

-

$

1.04

share/ADS attributable to Sohu.com Limited

Diluted net income/(loss) per share/ADS attributable to

$

(0.52)

$

(1.16)

$

0.63

Sohu.com Limited

Shares/ADSs used in computing diluted net income/(loss)

31,729

32,492

34,190

per share/ADS attributable to Sohu.com Limited

SOHU.COM LIMITED

RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES

(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)

Three Months Ended Sep. 30, 2024

Three Months Ended Jun. 30, 2024

Three Months Ended Sep. 30, 2023

GAAP

Non-GAAP

Non-

GAAP

Non-GAAP

Non-

GAAP

Non-GAAP

Non-

Adjustment

GAAP

Adjustment

GAAP

Adjustment

GAAP

-

(a)

1

(a)

15

(a)

Brand advertising gross profit

$

1,637

$

-

$

1,637

$

3,949

$

1

$

3,950

$

3,342

$

15

$

3,357

Brand advertising gross margin

9%

9%

20%

20%

15%

15%

-

(a)

-

(a)

18

(a)

Online games gross profit

$

107,429

$

-

$

107,429

$

111,409

$

-

$

111,409

$

102,010

$

18

$

102,028

Online games gross margin

84%

84%

76%

76%

87%

87%

-

(a)

-

(a)

-

(a)

Others gross profit

$

3,311

$

-

$

3,311

$

509

$

-

$

509

$

5,607

$

-

$

5,607

Others gross margin

59%

59%

9%

9%

89%

89%

-

(a)

1

(a)

33

(a)

Gross profit

$

112,377

$

-

$

112,377

$

115,867

$

1

$

115,868

$

110,959

$

33

$

110,992

Gross margin

74%

74%

67%

67%

76%

76%

Operating expenses

$

125,417

$

(44)

(a) $

125,373

$

160,157

$

401

(a) $

160,558

$

131,590

$

(677)

(a) $

130,913

44

(a)

(400)

(a)

710

(a)

Operating loss

$

(13,040)

$

44

$

(12,996)

$

(44,290)

$

(400)

$

(44,690)

$

(20,631)

$

710

$

(19,921)

Operating margin

-9%

-9%

-26%

-26%

-14%

-14%

Income tax expense

$

15,028

$

(3,883)

(c)$

11,145

$

8,731

$

(3,764)

(c)$

4,967

$

15,340

$

(3,149)

(c)$

12,191

44

(a)

(400)

(a)

710

(a)

-

131

(b)

-

3,883

(c)

3,764

(c)

3,149

(c)

Net loss before non-controlling interest

$

(16,347)

$

3,927

44

-

3,883

Net loss from continuing operations

attributable to Sohu.com Limited for

diluted net loss per ADS

$

(16,347)

$

3,927

Net income from discontinued

operations attributable to Sohu.com

Limited for diluted net loss per ADS 8

$

-

-

Net income/(loss) attributable to

Sohu.com Limited for diluted net

income/(loss) per share/ADS

$

(16,347)

3,927

Diluted net loss from continuing

operations per ADS attributable to

Sohu.com Limited

$

(0.52)

Diluted net income from discontinued

operations per ADS attributable to

Sohu.com Limited

$

-

Diluted net income/(loss) per

share/ADS attributable to Sohu.com

$

(0.52)

Limited

Shares/ADSs used in computing

diluted net income/(loss) per

share/ADS attributable to Sohu.com

Limited

31,729

Note:

$

(12,420)

$

(37,657)

$

3,495

$

(34,162)

$

(14,061)

3,859

(10,202)

(a)

(400)

(a)

710

(a)

131

(b)

-

(c)

3,764

(c)

3,149

(c)

$

(12,420)

$

(37,657)

$

3,495

$

(34,162)

$

(14,059)

3,859

(10,200)

-

$

-

-

$

-

$

35,426

-

$

35,426

(12,420)

$

(37,657)

$

3,495

$

(34,162)

$

21,367

3,859

25,226

$

(0.39)

$

(1.16)

(1.05)

$

(0.41)

$

(0.30)

-

$

-

-

$

1.04

$

1.04

(0.39)

$

(1.16)

(1.05)

$

0.63

$

0.74

31,729

32,492

32,492

34,190

34,190

Disclaimer

Sohu.com Ltd. published this content on November 12, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 12, 2024 at 07:21:34.573.