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Sohu.com Earnings: SOHU Stock Surges on Q1 Beats

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.

Sohu.com Earnings: SOHU Stock Surges on Q1 Beats
Source: Budrul Chukrut/Shutterstock.com

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.

Article printed from InvestorPlace Media, https://investorplace.com/2020/05/sohu-com-earnings-sohu-stock-surges-on-q1-beats/.

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