On March 4th, Sohu, a US listed company, announced its financial reports for the fourth quarter and fiscal year of 2023. According to the financial report, Sohu's total revenue in the fourth quarter of last year was $141 million, with a total annual revenue of $601 million. At the same time, the board of directors of Sohu announced an increase in the amount of its stock repurchase plan, from a maximum of $80 million to a maximum of $150 million.
"In the fourth quarter and full year of 2023, while the advertising budget remained cautious, the company continued to improve operational efficiency and strictly control costs. Based on this, the company's net profit reached the previously expected high line in the fourth quarter of 2023," said Zhang Chaoyang, founder, chairman of the board of directors, and CEO of Sohu
The financial report shows that Sohu's total revenue in the fourth quarter of 2023 was 141 million US dollars. Among them, brand advertising revenue is 20 million US dollars, and online gaming revenue is 115 million US dollars. In 2023, Sohu's total revenue was 601 million US dollars. Among them, brand advertising revenue was 89 million US dollars, and online gaming revenue was 480 million US dollars.
Previously, several Internet companies increased the amount of share repurchase, which is usually considered as a sign of increasing confidence in the stock price or the company's prospects. It is worth mentioning that on March 2, 2024, the board of directors of Sohu approved an additional amount for the previously announced American Depositary Stock Repurchase Program, increasing the total amount from a maximum of $80 million to a maximum of $150 million. It was announced earlier that the stock repurchase plan will begin on November 11, 2023, for a period of 2 years. As of February 29, 2024, Sohu has repurchased 1276457 Sohu American Depositary Shares for a total amount of approximately $12 million.