Sohu.com (NASDAQ: SOHU) today reported results for the third quarter ended September 30, 2004.
Results for the third quarter 2004 showed that the company revenues were up 17% year-on-year to US$25.9 million, with advertising revenues seeing an increase of 77% year-on-year to US$15.5 million–accounting for 60% of the company's revenues. Brand advertising was up 80% year-on-year and sponsored search reaching scale, growing 64% year-on-year.
One major disappointment for Sohu, however, was that wireless revenues were down 30% year-on-year, comprising only 31% of total revenues, a fact that Charles Zhang, Chairman and CEO of Sohu, noted during his address.
Other features highlighted during the announcement included the fact that commercial operation of Sohu's Blade Online game was off to a promising start, and that Sohu was now established as the Official Website for both Formula One and the China Open signed. Additionally, an online partnership with NBA.com was renewed and expanded to include wireless services.
Sohu's own proprietary search engine, SoGou, was also launched successfully this quarter.
"While we face a setback in our wireless business we are pleased to note the continuing strength of brand advertising, sponsored search, online games and e-commerce. To demonstrate our confidence in the health and future prospects of the Company, the Board of Directors has expanded the original stock repurchase program approved earlier this year," said Charles Zhang.
