Sohu.com Says Wireless Revenues Fell While Search Revenues Grew In China
Chinese online media company Sohu.com Inc. reported its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2010, and said that while wireless revenues fell, online game and search engine revenues increased.
The company’s total revenues were USD173.2 million, up 27% year-over-year and 6% quarter-over-quarter. Brand advertising revenues were USD60.1 million, up 31% year-over-year and 2% quarter-over-quarter; and online game revenues reached USD91.7 million, up 30% year-over-year and 7% quarter-over-quarter.
Search revenues were USD6.6 million, up 126% year-over-year and 23% quarter-over-quarter. Wireless revenues for the fourth quarter of 2010 were USD14.4 million, down 8% year-over-year but up 6% quarter-over-quarter.
Gross margin was 74% for the fourth quarter of 2010, compared with 74% in the third quarter of 2010 and 75% in the fourth quarter of 2009. The company stated its GAAP net income was USD41.5 million, up 41% year-over-year and 7% quarter-over-quarter.
The company’s cash position as of December 31, 2010, stood at USD678.4 million.