Sogou (NYSE:SOGO) earnings for the Chinese web search company’s fiscal fourth quarter of 2019 have SOGO stock up on Monday. This is thanks to its adjusted earnings per share (EPS) of 10 cents, which comes in above Wall Street’s estimate of 8 cents per share. However, its revenue of $301.02 million is slightly below analysts’ estimates of $301.24 million — but isn’t dragging SOGO stock down.
Here are some additional highlights from the most recent Sogou earnings report.
- Adjusted per-share earnings are up 42.86% from 7 cents during the same time last year.
- Revenue for the quarter comes in 1.08% higher than the $297.8 million reported in fiscal Q4 2018.
- Operating income of $37.4 million is a 201.61% increase year-over-year from $12.4 million.
- The Sogou earnings report also includes a net income of $34.99 million.
- That’s a 32.54% improvement over the company’s net income of $26.4 in the same period of the year prior.
Xiaochuan Wang, Chief Executive Officer of Sogou, said the following about the SOGO stock earnings:
“Our business showed resilience in 2019 despite continued headwinds in the macro environment and in the online advertising industry in China. Search revenue grew faster than the industry average in 2019, as we stepped up efforts to build out our content and service ecosystem.”
The Sogou earnings report also includes its outlook for the fiscal first quarter of 2020. It expects revenue for the quarter to range from $240 million to $260 million. That would have it beating out Wall Street’s estimate of $237.2 million for the period.
SOGO stock was up 3.12% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
