On November 13th, Sohu released its financial report for the third quarter of 2023, showing that the company's total revenue for the third quarter was $145 million, including $22 million in brand advertising revenue and $117 million in online gaming revenue; The non US GAAP net loss attributable to the company was $10 million, significantly narrowing from a net loss of $17 million in the same period last year.
Meanwhile, according to the financial report, Sohu's board of directors approved a two-year US depositary stock repurchase plan with a total amount of up to $80 million on November 11th, to be conducted by management in the open market at market prices. The company plans to use existing funds for this repurchase.
In the third quarter, we continued to optimize our products and improve operational efficiency. Against this backdrop, the company's performance for this quarter met previous expectations, "said Zhang Chaoyang, founder, chairman of the board of directors, and CEO of Sohu, From an overall business perspective, in terms of Sohu Media, we continuously improve our products and enhance user experience. In terms of Sohu Video, under the 'dual engine' strategy, we focus on the production and distribution of attractive short video content and live streaming. This helps us further increase user stickiness and social interaction. At the same time, thanks to our unique content marketing activities and differentiated competitive advantages, we continue to explore diversified businesses Industrialization opportunities. In terms of online games, we continuously introduce new content and operational activities, and game revenue remains stable