Business
Chinese portal Sohu says profit down, revenue up
Posted: Feb 4, 2013 1:52 AM
Updated: Feb 4, 2013 1:53 AM
BEIJING (AP) Sohu.com 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.
