27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Sohu.com Limited (NASDAQ: SOHU) reported a revenue decline of 22% year-over-year to $145.4 million for the third quarter of 2023. Revenue was down by 4% Q/Q.
The Chinese Internet company's adjusted loss per ADS was 30 cents, missing the consensus loss of 62 cents.
Brand advertising revenues declined 14% Y/Y to $22 million. Online game revenues decreased 21% Y/Y to $117 million, mainly due to the natural decline of its older games.
The adjusted gross margin expanded by 500 bps Y/Y to 76% and flat Q/Q. The adjusted gross margin for online games was 87% versus 84% last year and 87% in the prior quarter.
Sohu held $1.4 billion in cash and equivalents as of September 30, 2023.
Average monthly active user accounts for Changyou PC games increased by 3% Y/Y to 2.2 million. The average MAU for Changyou mobile games fell by 9% Y/Y to 2.3 million.
Chair and CEO Dr. Charles Zhang commented, "At Sohu Video, with our "Twin Engine" strategy, we focused on the generation and distribution of compelling short-form content as well as live broadcasts."
Outlook: Sohu sees Q4 brand advertising revenue of $20 million-$23 million, an annual decrease of 20% - 31% Y/Y.
It sees Q4 online game revenues decline by 4% - 13% to $106 million-$116 million.
Sohu estimates Q4 adjusted net loss of $(10) million - $(20) million.
The stock has lost 39% YTD.
Price Action: SOHU shares traded higher by 5.84% at $9.25 premarket Monday.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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