Sohu's net profit jumps on ads and games
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Net profit at Internet portal and online game operator Sohu jumped 34 percent in the first quarter from a year ago, boosted by income from online advertising and online games, which exceeded previous estimates.
Net income was US$55.2 million while revenue rose 35 percent from the year-earlier period to US$174.4 million, Sohu said yesterday.
Advertising from search unit Sogou.com almost tripled to US$8 million as Sohu took advantage to expand its market share after Google began to direct Chinese mainland users to its Hong Kong site in March last year. Online gaming contributed US$94.9 million, up 32 percent from a year ago, and online brand advertising surged an annual 45 percent to US$57.2 million.
Sohu estimated second-quarter revenue at between US$188 million and US$193 million.
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