Investment Thesis
Sogou.com (SOGO) reported an OK result for Q2 earnings, considering the overall slowing macroeconomic environment. We find the company is undervalued at the current price which presents a good entry point for investors.
SOGO's Q2 Results
SOGO released its 2019 Q2 results on Aug 5th. Here are some key highlights:
- Total revenues were $303.6 million, a 1% increase year-over-year or an 8% increase in RMB terms.
- Revenues from search-related business were $276.2 million, 2% growth year-over-year and 48.1% growth quarter-over-quarter.
- Net income attributable to Sogou Inc. was $21.3 million. Non-GAAP net