Sohu.com (NASDAQ:SOHU) earnings for the first quarter of 2020 have SOHU stock higher on Wednesday. This is after reporting revenue of $436 million, which is above Wall Street’s estimate of $427.85 million. Furthermore, the company reported adjusted losses per share of 47 cents, while analysts were expecting a 72-cent loss for the quarter.
Additionally, the company reported GAAP losses per share of 52 cents for the period.
Now let’s see what else is worth mentioning from the most recent Sohu.com earnings report.
- Adjusted losses per share were 66.2% better than a loss of $1.39 during Q1 2019.
- Revenue for the quarter comes in 6% higher compared to $411.27 million during the same time last year.
- Operating loss of $24.24 million is 41.7% better year-over-year than $41.59 million.
- Sohu.com earnings also includes a net loss of $25.11 million.
- That is 46.8% better compared to $47.17 million from the first quarter of 2019.
Dr. Charles Zhang, chairman and CEO of Sohu.com, said this about the SOHU stock earnings report:
“During the first quarter of 2020, the COVID-19 outbreak inevitably impacted the overall economy and the advertising industry as well. Facing these challenges, we continued to explore new opportunities and differentiated development strategies. For Sohu Media Portal, as a mainstream media platform, we continued to refine the product to generate and distribute a large amount of timely and accurate information, especially regarding the pandemic and its prevention.”
The Sohu.com earnings does include guidance for Q2 of 2020. The company expects a per-share loss of 13 cents on revenue between $410 million and $445 million. Meanwhile, Wall Street is looking for a 13-cent loss on revenue of $502.14 million.
SOHU stock was up 1.6% as of Monday’s close.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.