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Chinese portal Sohu says profit down, revenue up

March 16. 2013 10:03PM
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(AP) Inc., which operates a popular Chinese Internet portal, says its quarterly profit fell 9 percent as rising expenses offset strong revenue growth for online games.

Sohu said Monday it earned $23 million, or 60 U.S. cents per share, in the three months ending Dec. 31. For the full year, profit fell 49 percent from 2011 to $78 million, or $2.03 per share.

The company operates online media, search, gaming and community services.

Total revenue for the quarter rose 22 percent from a year earlier to a record $229 million. That was driven by a 29 percent rise in online game revenue to $158.9 million.

Expenses rose 12 percent to $141.5 million driven by higher costs for staff and marketing.

Associated Press

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