Sohu.Com Q3 profit rises

Reuters News
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Posted: Oct 31, 2011 3:38 AM
Sohu.Com Q3 profit rises

(Reuters) - Chinese internet portal Sohu.com Inc's third-quarter profit rose 19 percent, helped mainly by higher revenue from its online advertising and online gaming businesses

Net income for the quarter rose 19 percent to $64.3 million, or $1.17 a share, from last year.

Total revenue for Sohu.com, which competes with Sina Corp, NetEase.com and Tencent Holdings, rose 42 percent to $233 million.

The key online gaming segment, which makes up more than half of Sohu's total revenue, rose 35 percent to $115.8 million, while online brand advertising revenue rose to $76.6 million.

Analysts on average were expecting the company to earn $1.18 per share, on revenue of $228.3 million, according to Thomson Reuters I/B/E/S.

The company said it expected fourth-quarter non-GAAP earnings of $1.30-$1.35 per share on revenue of $241-$246 million.

(Reporting by Maneesha Tiwari in Bangalore; Editing by Jon Loades-Carter)