Sohu Corporation announced its financial report for the first quarter of 2024 today. The financial report shows that the revenue for the first quarter was 139 million US dollars, a year-on-year decrease of 14%. Sohu expects its online gaming revenue to increase from $133 million to $143 million in the second quarter.
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.
As of the close on May 17th US time, Sohu closed down 1.41% at $11.93 per share.