In Q3 of 2023, Sohu’s revenue dropped 22% year-on-year, with a net loss of US$10 million.

According to news from this site on November 13, Sohu announced its third quarter financial report for 2023 today. The financial report shows that Sohu's total revenue in the third quarter was US$145 million (note on this site: currently about 1.059 billion yuan), a year-on-year decrease of 22% and a month-on-month decrease of 4%.

Among them, brand advertising revenue was US$22 million (approximately RMB 161 million), a year-on-year decrease of 14% and a month-on-month decrease of 8%; online game revenue was US$117 million (approximately RMB 854 million). A year-on-year decrease of 21% and a month-on-month decrease of 1%

Sohu also announced a two-year stock buyback plan

with a total amount of up to US$80 million. Zhang Chaoyang, founder, chairman and CEO of Sohu, said: "We continued to optimize our products and improve operational efficiency in the third quarter. Therefore, our revenue and net profit for this quarter are in line with previous expectations. ”

Financial report shows that in the third quarter of 2023,

non-GAAP net loss attributable to Sohu was US$10 million

(currently approximately 73 million yuan), a net loss in the same period last year was US$17 million (currently approximately RMB 124 million), a significant year-on-year decrease. Zhang Chaoyang said: "For Sohu media business, we have been continuously improving products and enhancing user experience. In terms of Sohu video, according to the 'dual engine' strategy, we focus on providing engaging short video content and Production and distribution of live broadcasts. This helps to further improve user stickiness and social interaction. At the same time, through unique content marketing activities and differentiated competitive advantages, we continue to explore diversified business opportunities. In terms of online games, we continue to Launch new content and operational activities to keep game revenue stable."

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