On May 20, 2024, Sohu Corporation released its financial report for the first quarter of 2024. According to the financial report, Sohu's total revenue in the first quarter was $139 million, of which brand advertising revenue was $16 million and online gaming revenue was $118 million.
"In the first quarter of 2024, despite seasonal impacts, our revenue met expectations and our net loss was better than previously expected," said Zhang Chaoyang, founder, chairman of the board of directors, and CEO of Sohu
According to the financial report, Sohu's total revenue in the first quarter of 2024 was $139 million. The non GAAP net loss attributable to Sohu Corporation was $22 million. Meanwhile, according to Sohu's previously announced repurchase plan for up to $150 million in American Depositary Shares, as of May 16, 2024, Sohu has repurchased 1726718 shares of Sohu American Depositary Shares for a total amount of approximately $17 million.
Overall, in terms of business, "Sohu Media and Sohu Video, we continue to improve our products, optimize algorithms, and continuously enhance user experience. We actively integrate products and resources to promote content generation, consumption, and social distribution. At the same time, relying on our unique IP and differentiation advantages, we continuously organize 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.