On November 13th, Sohu released its financial report for the third quarter of 2023. In the third quarter, the company's total revenue was $145 million, and its net loss (non US GAAP) significantly narrowed to $10 million year-on-year, compared to a net loss of $17 million in the same period last year. Sohu also announced a two-year stock repurchase plan with a total amount of up to $80 million.
Data shows that in the third quarter of 2023, Sohu brand advertising revenue was $22 million, and online gaming revenue was $117 million. Zhang Chaoyang, founder, chairman of the board and CEO of Sohu, said, "In the third quarter, we continued to optimize our products and improve operational efficiency. Based on this, our revenue and net profit for this quarter met previous expectations
According to the financial report, Sohu's board of directors approved a two-year American depositary stock repurchase plan with a total amount of up to $80 million on November 11, 2023. The management will conduct the repurchase in the open market at market prices, and the company plans to use existing funds for this repurchase.