The following is a summary of the Sohu.com Limited (SOHU) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Sohu.com reported Q2 2024 total revenues of $172 million, up 13% year-over-year and 24% quarter-over-quarter.

• Brand advertising revenues were $20 million, down 17% year-over-year but up 24% quarter-over-quarter.

• Online game revenues increased to $147 million, up 24% year-over-year and 25% quarter-over-quarter.

• GAAP net loss was $38 million, worsened from $21 million in the same quarter last year.

Business Progress:

• Focus on enhancing user experience through innovative features and promoting social interactions among users.

• Hosted various offline and online events to stimulate content creation and user engagement.

• Launched new and updated versions of games, with plans to continue these launches to keep the player base engaged.

• Executed a share repurchase program, acquiring $26 million worth of ADS.

Opportunities:

• Continual investment in innovative marketing campaigns and platforms to attract advertising despite overall market challenges.

• Plan to expand internationally, and invest in content and technology innovation to enhance core competitiveness in gaming.

• Potential rebound in gaming revenue from the newly aligned development strategies for Westward Journey.

Risks:

• Declining trend in brand advertising revenues due to cautious advertiser spending in a challenging macroeconomic environment.

• Expected decrease in online game revenues in Q3 2024 due to the natural decline of older games and temporary challenges in some new games.

• Operationally, high sales and marketing costs are anticipated to continue impacting the profitability.

More details: Sohu.com IR

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