Sohu.com Limited (NASDAQ:SOHU) reports US$436 million revenue for the first quarter 2020

Sohu.com Limited (NASDAQ:SOHU) seen a rise in the market cap on Friday as its shares jumped 6.97% or 0.52 points. After the session commenced at $7.43, the stock reached the higher end at $8.05 while it hit a low of $7.39. With the volume soaring to 448.57K shares, the last trade was called at $7.98. The company has a 52-week high of $18.50. The company has a market cap of $292.87 million and there are 39.26 million shares in outstanding. The 52-week low of the share price is $5.41. Sohu.com Limited has dropped -25.35% during the last 3-month period. Year-to-Date the stock performance stands at -28.62%.

Sohu.com Limited (NASDAQ:SOHU) on May 18, 2020 reported total revenues for the first quarter of 2020 were US$436 million, up 6% year-over-year and down 11% quarter-over-quarter. Total online advertising revenues for the first quarter of 2020 were US$263 million, down 5% year-over-year and 17% quarter-over-quarter. Online game revenues for the first quarter of 2020 were US$133 million, up 35% year-over-year and 1% quarter-over-quarter. 

GAAP and non-GAAP gross margin was 37% for the first quarter of 2020, compared with 41% in the first quarter of 2019 and 52% in the fourth quarter of 2019.

For the first quarter of 2020, GAAP operating expenses totaled US$186 million, down 12% both year-over-year and quarter-over-quarter. Non-GAAP operating expenses were US$182 million, down 13% year-over-year and 11% quarter-over-quarter.

GAAP net loss attributable to Sohu.com Limited for the first quarter of 2020 was US$20 million, or US$0.52 loss per fully-diluted ADS, compared with a net loss of US$54 million in the first quarter of 2019 and a net loss of US$18 million in the fourth quarter of 2019. Non-GAAP net loss attributable to Sohu.com Limited for the first quarter of 2020 was US$18 million, or a net loss of US$0.47 per fully-diluted ADS, compared with a net loss of US$52 million in the first quarter of 2019 and a net income of US$7 million in the fourth quarter of 2019. 

GAAP income tax expense was US$14 million for the first quarter of 2020, compared with income tax expense of US$11 million in the first quarter of 2019 and income tax benefit of US$1 million in the fourth quarter of 2019. Non-GAAP income tax expense was US$11 million for the first quarter of 2020, compared with income tax expense of US$9 million in the first quarter of 2019 and income tax benefit of US$4 million in the fourth quarter of 2019.

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