On August 5th, Sohu released its financial report for the second quarter of 2024. The company achieved a total revenue of 172 million US dollars, an increase of 13% compared to the same period in 2023 and a 24% increase compared to the previous quarter. In the second quarter of 2024, our brand advertising revenue reached the previously expected high line, our online gaming revenue exceeded expectations, and our net profit met previous expectations, "said Zhang Chaoyang, founder and chairman of Sohu
According to the financial report, in the second quarter of 2024, Sohu's brand advertising revenue was 20 million US dollars, an increase of 24% compared to the previous quarter; Online gaming revenue was $147 million, a 25% increase from the previous quarter. The company has increased more forward-looking investments in expanding platform scale and user acquisition, resulting in a net loss (non GAAP) of $34 million for the quarter.
Zhang Chaoyang said, "In terms of Sohu Media and Sohu Video, relying on an increasingly optimized and interconnected product matrix, we have further promoted the generation and consumption of high-quality content, effectively enhancing social interaction among users. Thanks to differentiated projects and marketing activities, we have continuously strengthened our brand influence and explored diversified commercialization opportunities. Our online gaming business has performed well, with revenue exceeding previous expectations