SOHU - Sohu.com Non-GAAP EPADS of -$0.37 revenue of $162M; initiates Q2 guidance

May, 15 2023 01:15 AM Sohu.com Limited

2023-05-15 01:15:31 ET

Sohu.com press release ( NASDAQ: SOHU ): Q1 Non-GAAP EPADS of -$0.37.
Revenue of $162M (-16.1% Y/Y).
Both GAAP and non-GAAP gross margin were 75%, compared with 75% in the first quarter of 2022 and 78% in the fourth quarter of 2022.
As of March 31, 2023, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.4 billion.
Guidance: For the second quarter of 2023, Sohu estimates:
- Brand advertising revenues to be between US$23 million and US$26 million; this implies an annual decrease of 8% to an annual increase of 4%, and a sequential increase of 2% to 15%.
- Online game revenues to be between US$112 million and US$122 million; this implies an annual decrease of 22% to 29%, and a sequential decrease of 6% to 13%.
- Non-GAAP net loss attributable to Sohu.com Limited to be between US$15 million and US$25 million; and GAAP net loss attributable to Sohu.com Limited to be between US$18 million and US$28 million.

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