The following is a summary of the Sohu.com Limited (SOHU) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Sohu.com reported total revenues of $152 million, a 5% increase year-over-year.

• Brand advertising revenues decreased by 15% year-over-year to $19 million.

• Online game revenues rose by 9% year-over-year, reaching $128 million.

• GAAP net loss attributable to Sohu.com Limited was $16 million, compared to a net loss of $14 million in the same quarter last year.

• Non-GAAP net loss was $12 million, down from a net loss of $10 million in the third quarter of the previous year.

Business Progress:

• Sohu Media and Sohu Video continued to refine products and improve user experience, hosting events like the 2024 autumn convention of Sohu Video influencers.

• Changyou, the online gaming segment, exceeded revenue expectations due to strong performances from games like TLBB PC.

• Sohu announced an extension of its share purchase program up to November 2026, having repurchased 3.4 million ADS for approximately $42 million.

Opportunities:

• Continued investment in unique marketing events and collaborations, like the '2024 Dream Concert' in South Korea which catered to a strong fanbase of K-pop in China, creating significant engagement and discussion.

• Commitment to the expansion of game titles and updates like the upcoming expansions for TLBB series and New Westward Journey aiming to keep player engagement high.

Risks:

• Advertising market challenges persist, impacted by a softening economy, as reflected by a consistent decline in brand advertising revenues.

• Forecasts indicate potential further declines in online gaming revenues, with anticipated decreases in both annual and sequential comparisons for the next quarter.

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