Original title: the financial report was less than expected. Sohu closed sharply on Monday and its share price hit a new low
Techweb reported on August 6 that as of Monday's close on August 5, Sohu (NASDAQ: Sohu) shares plunged 27% to close at US $8.92, a 16 year low since June 2003.
It is understood that Sohu released its unaudited financial report for the second quarter of 2019 as of June 30, 2019 on Monday. According to the financial report, Sohu's total revenue in the second quarter was US $475 million, a year-on-year decrease of 2% and a month on month increase of 10%; The non GAAP net loss attributable to Sohu was US $50 million, compared with us $49 million in the same period last year. Among them, the largest revenue from search and search advertising related businesses was US $276 million, a year-on-year increase of only 2%.
According to the data summarized by Yahoo Finance, the previous three analysts on average predicted that Sohu's total revenue in the second quarter would reach $481.58 million. According to the financial report, Sohu's total revenue in the second quarter was $475 million, lower than analysts' expectations.
In interpreting the financial report and answering analysts' questions, Zhang Chaoyang said that in terms of content production and unique marketing, we have made a lot of efforts to attract advertisers to advertise on Sohu platform. Therefore, even under the economic conditions in the second half of the year, the company believes that the advertising business will still grow compared with the second quarter.
In the long run, Sohu will actively use the traffic accumulated over the years on PC, H5 pages and WAP pages. It is hoped that the company's traffic will continue to increase in the future, not only the growth of brand advertising and high-quality content, but also the growth of small and medium-sized media enterprises and standardized advertising. I hope the company's advertising business will be more competitive next year.