Sohu Down 8.8% on Lower Than Expected Guidance

Sohu.com

is trading lower on the session followings its Q1 earnings and Q2 guidance announcements this morning. The company reported an EPS of $0.53 vs $0.47 estimates and revenues $227 million vs $225.81 million estimates. Sohu guided Q2 EPS $0.40-0.45, which may not be comparable to $0.81 estimates. Revenue guidance was $244-250 million vs $250.78 million estimates. Dr. Charles Zhang, Chairman and CEO of Sohu.com Inc. stated: "In the first quarter, our financial results were mixed. Our brand advertising business got off to a slow start mainly due to the early Chinese New Year holiday and the softening macroeconomic conditions in China." Sohu is currently trading at $50.83, a loss of $4.93 or 8.84%.