TapTechNews May 20th news, Sohu company announced its financial report for the first quarter of 2024 today. The financial report shows that Sohu's total revenue in the first quarter was 139 million US dollars (TapTechNews note: about 1.005 billion yuan currently), among which the brand advertising revenue was 16 million US dollars (about 116 million yuan currently), and the online game revenue was 118 million US dollars (about 853 million yuan currently).
The total revenue was 139 million US dollars, which decreased by 14% compared to the same period in 2023 and decreased by 1% compared to the previous quarter.
The brand advertising revenue was 16 million US dollars, which decreased by 29% compared to the same period in 2023 and decreased by 20% compared to the previous quarter.
The online game revenue was 118 million US dollars, which decreased by 9% compared to the same period in 2023 and increased by 3% compared to the previous quarter.
Sohu's founder, chairman of the board and chief executive officer Zhang Zhaoyang said: In the first quarter of 2024, although affected by the seasonality, our revenue met expectations and the net loss was better than previously expected.
The financial report shows that in the first quarter of 2024, Sohu's total revenue was 139 million US dollars. The non-US GAAP net loss attributed to Sohu company was 22 million US dollars (about 159 million yuan currently). At the same time, according to the previously announced US depositary share repurchase plan with a total amount of up to 150 million US dollars by Sohu company, as of May 16, 2024, Sohu has repurchased 1,726,718 Sohu US depositary shares with a total amount of about 17 million US dollars.
From the overall business perspective, In terms of Sohu media and Sohu video, we continue to improve the product and optimize the algorithm to continuously improve the user experience. We actively integrate products and resources to promote the generation, consumption and social distribution of content. At the same time, relying on unique IP and differentiated advantages, we continuously hold a variety of activities to enhance user interaction, stimulate content co-creation, and at the same time obtain more commercial opportunities. The online game business performs steadily and the revenue meets expectations. Zhang Zhaoyang said.
In terms of PC client games, the total average monthly active users were 2.3 million, which increased by 5% compared to the same period last year and decreased by 1% compared to the previous quarter. The total active paying users in the quarter were 900,000, which increased by 1% compared to the same period last year and increased by 3% compared to the previous quarter.
In terms of mobile games, the total average monthly active users were 2.8 million, which increased by 71% compared to the same period last year and increased by 63% compared to the previous quarter. The year-on-year and quarter-on-quarter growth of active users is mainly due to the user growth brought by the volleyball boy launched in Japan and South Korea this quarter. The total active paying users in the quarter were 300,000, which was the same as that in the same period last year and decreased by 2% compared to the previous quarter.
In the second quarter of 2024, Sohu is expected to:
The brand advertising revenue will be between 18 million and 20 million US dollars, which will decrease by 16% to 25% compared to the same period in 2023 and increase by 12% to 24% compared to the first quarter of 2024.
The online game revenue will be between 133 million and 143 million US dollars, which will increase by 12% to 21% compared to the same period in 2023 and increase by 13% to 21% compared to the first quarter of 2024.
The non-US GAAP net loss attributed to Sohu company will be between 27 million and 37 million US dollars, and the US GAAP net loss attributed to Sohu company will be between 30 million and 40 million US dollars.