On May 20th, Sohu released its first quarter 2024 report, which showed that the company's revenue in the first quarter reached $139 million. Among them, brand advertising revenue is 16 million US dollars, and online gaming revenue is 118 million US dollars. The non GAAP net loss attributable to Sohu Corporation was $22 million.
"In the first quarter of 2024, despite being affected by seasonality, revenue met expectations and net losses were better than previously expected," said Zhang Chaoyang, founder, chairman of the board of directors, and CEO of Sohu
Meanwhile, according to Sohu's previously announced repurchase plan for up to $150 million in American Depositary Shares, as of May 16th, Sohu has repurchased 1726718 shares of Sohu American Depositary Shares for a total amount of approximately $17 million.
"In terms of Sohu Media and Sohu Video, the company continues to improve its products, optimize algorithms, and continuously enhance user experience. It actively integrates products and resources to promote content generation, consumption, and social distribution. At the same time, relying on its unique IP and differentiation advantages, it continuously organizes rich and colorful activities to enhance user interaction, stimulate content co creation, and obtain more commercial opportunities. The online gaming business has performed steadily, and revenue meets expectations." Zhang Chaoyang said.