Sohu.com Earnings: Exceeds Profit Estimate, But Off the Revenue Mark
Sohu.com Inc. (NASDAQ:SOHU) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.59%.
Sohu.com Inc. Earnings Cheat Sheet
Results: Net income decreased -14.37% to $23 million (60 cents per diluted share) in the quarter versus a net gain of $26.86 million in the year-earlier quarter.
Revenue: Decreased 6.97% to $229 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sohu.com Inc. reported adjusted net income of 60 cents per share. By that measure, the company beat the mean analyst estimate of $0.53. It missed the average revenue estimate of $292.46 million.
Quoting Management: Dr. Charles Zhang, Chairman and CEO of Sohu.com Inc. commented, “We ended 2012 with an encouraging fourth quarter. Looking at 2012, despite the slowdown in China’s economic growth, I’m pleased that the Sohu Group’s total annual revenues rose 25% year-on-year and surpassed the $1 billion mark for the first time in our history, setting an important milestone for the Sohu Group…