Expects revenue to be in the range of $163m and $168m for Q4 2010
Sohu.com has reported total revenues of $164.1m for the third quarter of 2010, up 20% compared to $137m for the same period last year.
Revenues from advertisements and online games increased to $64.5m and $86m, compared to $51m and $69m respectively for the third quarter of 2010.
However, revenues from wireless decreased by 18% to $14m, compared to $17.1m for the same period last year.
For the quarter ended 30 September 2010, the company posted an operating profit of $65.2m, an increase of 23% compared to $53m for the same quarter last year.
Net income for the third quarter of 2010 was $41m and diluted EPS was $1.01, compared to net income of $37.4m and diluted EPS of $0.88 for the same period last year.
Sohu chairman and CEO Charles Zhang said the company had a record quarter, with strong growth in each of their major business segments – online video, their potential future revenue driver, is gaining significant traction as they add high-definition content and leverage the synergies of the Sohu platform to make their video products even more attractive to both users and advertisers.
"Also we believed that the introduction of strategic investors to our Sogou search business leaves our search business in a more competitive position and offers great promise for future collaboration and services with China’s largest e-commerce website," Zhang said.
The company anticipates total revenues to be in the range of $163m and $168m for the fourth quarter of 2010, with advertising revenues of $58m to $60m and online game revenues to range between $86m and $89m.