Sohu.com (NASDAQ:SOHU) earnings for the Chinese internet company’s fiscal fourth quarter of 2019 have SOHU stock stationary after-hours Monday. This follows its adjusted earnings per share of 17 cents, which is well above Wall Street’s estimate of -38 cents per share. The company’s revenue of $489.65 million also beats out analysts’ estimates $476.43 million.Here’s what else is worth noting from the most recent Sohu.com earnings report.
- Adjusted EPS is a switch from its losses per share of -$1.30 during the fiscal fourth quarter of 2018.
- Revenue for the quarter is up 5.46% from $464.28 million in the same period of the year prior.
- Operating income of $41.51 million is an improvement year-over-year from an operating loss of -$36.02 million.
- The Sohu.com earnings report also has it bringing in a net loss of -$18 million.
- That’s not as good as the company’s net income of $23 million from the same time last year.
Dr. Charles Zhang, chairman and CEO of Sohu.com, said this about the SOHU stock earnings:
“During 2019, China’s economy continued to slow down and competition intensified. However, these challenges did not stop us from exploring new opportunities and improving operating efficiencies. As a result, our operating results further improved due to the solid performance of our business and the effective cost saving initiatives.”
The Sohu.com earnings report also includes its outlook for the fiscal first quarter of 2020. This has it expecting adjusted losses per share of -65 cents to -90 cents on revenue of $400 million to $435 million. Meanwhile, Wall Street’s estimates are for adjusted losses per share of -96 cents.
SOHU stock was unmoving after-hours Monday after gaining less than 1% during the trading day.
As of this writing, William White did not hold a position in any of the aforementioned securities.