20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Sohu.com Limited (NASDAQ: SOHU) reported a revenue decline of 22% year-over-year to $152.1 million for the second-quarter of 2023, missing the consensus of $153.7 million. Revenue was down by 6% Q/Q.
Brand advertising revenues declined 4% Y/Y to $24 million. Online game revenues decreased 25% Y/Y to $118 million.
The non-GAAP gross margin expanded by 300 bps Y/Y to 76% and by 100 bps Q/Q. The non-GAAP gross margin for online games was 87% versus 84% last year and 85% in the prior quarter.
Non-GAAP loss per ADS was 52 cents, missing the consensus loss of 44 cents.
Sohu held $1.4 billion in cash and equivalents.
Average monthly active user accounts for Changyou PC games decreased by 4% Y/Y to 2.2 million. The average MAU for Changyou mobile games fell by 35% Y/Y to 1.3 million.
Sohu CEO Charles Zhang touted the Beijing-based company's "Twin Engine" strategy, and its portfolio of long and short-form video content.
"Leveraging our advanced live broadcasting technology and Sohu product matrix, we hosted traditional flagship events and innovative content marketing campaigns, which generated abundant premium content and attracted more users," he said.
Sohu was in a position to "explore more monetization opportunities and gain advertising dollars," he added. "Online games remained steady, generating revenues in line with our prior guidance."
Outlook: Sohu sees Q3 brand advertising revenue of $21 million-$24 million, up from a 7%-18% decline Y/Y.
It sees Q3 online game revenues decline of 21% to $108 million-$118 million.
Sohu estimates Q3 non-GAAP net loss of $20 million-$30 million.
Price Action: SOHU shares closed higher by 0.73% at $12.46 on Friday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!