Sohu.com Inc. | $SOHU Stock | Shares Crumble Following Q4 Earnings

0
791

Sohu.com Inc. (NASDAQ: SOHU)

 

On Monday morning before the market opened, Sohu.com Inc ($SOHU) announced fourth quarter earnings that missed expectations and sent nosediving in the premarket.

The company announced a net loss of $7.57 per share on $510 million in revenues with
$72 million of it coming from brand advertising revenues and search related avertising revenues at $247 million.

For the fiscal year 2017, $SOHU had $1.86 billion in revenues which is up 13% compared with 2016.

CEO Comments

Dr. Charles Zhang, Chairman and CEO of Sohu.com Inc., commented, “We ended 2017 with an eventful quarter. After fourteen years of great effort, our search subsidiary Sogou finally completed a successful U.S. IPO in November. The IPO has strengthened Sogou’s brand and balance sheet and should help us to further expand our market share in China’s search industry while developing advanced AI capabilities. For Sohu Media Portal, we have built a stronger product development team and seen encouraging user metrics of Sohu News App. For Sohu Video, 2017 was a transformative year when we shifted our focus to original content and began to significantly cut spending on traditional TV programs. The initiative should generate meaningful cost savings and narrow the losses in our video business in 2018. On the online game side, in 2017 Changyou benefited from the launch of the mobile game Legacy TLBB and achieved solid year-over-year growth in revenue and adjusted net profit. At the same time, the business has not stopped its efforts in developing multiple new mobile games and diversifying its game portfolio.”

SOHU Technicals

sohu.com

Looking at the 5-minute chart above you can see that shares are sharply down in the premarket with lows currently at $41.50 compared to Friday’s close of $46.31.

Shares are breaking out of a consolidation range which will now act as resistance at $43.50ish with support not coming in till around $40.

Shares will be more volatile than normal so if you are looking to trade this name today make sure to place hard stops and take profits according to your trade plan.

Company Profile

Sohu.com Inc. provides online media, search, and game services on personal computers (PCs), mobile devices, and tablets in the People’s Republic of China. It operates sohu.com, which provides online news and information; m.sohu.com mobile portal and Sohu News APP, a mobile phone application; tv.sohu.com, which offers online video service; and focus.cn that provides online real estate information.

The company also offers paid subscription services, interactive broadcasting services, and sub-licensing of purchased video content to third parties. The company’s search and search-related business provides Sogou Input Method software to input Chinese characters on PCs and mobile devices; Sogou Web Directory, a Web directory navigation site for PCs and mobile devices; Sogou Search, a proprietary search engine; and Sogou Browser for PCs and mobile devices, as well as offers pay-for-click services and online marketing services for advertisers.

In addition, its online game business offers PC games, mobile games, and Web games for game players. Further, the company’s platform channel business owns and operates various Web properties and software applications, including 17173.com, a game information portal; RaidCall, which provides online music and entertainment services; and the Dolphin Browser, a gateway to a host of user activities on mobile devices.

Additionally, it provides Internet value-added services; and cinema advertising services. The company was formerly known as Internet Technologies China Incorporated and changed its name to Sohu.com Inc. in September 1999. Sohu.com Inc. was founded in 1996 and is headquartered in Beijing, the People’s Republic of China. –YahooFinance

 

IMAGE CREDIT

SHARE
Previous articleStarbucks Corporation | $SBUX Stock | Shares Buck Lower On Q1 Revenues Miss
Next articleFacebook Inc. | $FB Stock | Shares Hit Record Highs Following Strong Q4
You can reach us at our TickerTV Office via support@ticker.tv or by phone (917) 720-3537. Legal Disclaimer – This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.

LEAVE A REPLY