- Sohu.com (SOHU, Financial) reported total Q1 2025 revenues of $136 million, a 3% decline year-over-year.
- GAAP net income was significantly boosted to $182 million due to a $199 million one-time tax benefit.
- Sohu repurchased 5.48 million ADSs for $67 million under its $150 million buyback program.
Sohu.com Limited (SOHU) has released its unaudited financial results for the first quarter of 2025, highlighting total revenues of $136 million. This represents a 3% decline compared to the same period last year, although there is a 1% increase from the previous quarter.
The company's GAAP net income reached $182 million, a significant improvement from a $25 million loss in Q1 2024. This gain was largely attributable to a $199 million tax benefit from reversing a previously recognized expense. However, on a non-GAAP basis, Sohu reported a net loss of $16 million.
Sohu's marketing services revenue decreased by 15% year-over-year to $14 million. In contrast, online game revenues were stable at $117 million year-over-year but showed a 7% increase quarter-over-quarter.
The company's liquidity remains strong with approximately $1.2 billion in cash and investments. Sohu continues its share repurchase program, having repurchased 5,484,160 ADSs for about $67 million as part of its $150 million authorized buyback plan.
Looking ahead, Sohu projects its Q2 2025 marketing services revenues to range between $16-17 million and online game revenues between $96-106 million. The company anticipates a net loss ranging from $20-30 million in the next quarter.
