China tech giant Sohu reports $79m loss on higher expensesBy AP News Apr 28, 2014 7:05PM UTC
BEIJING (AP) — Sohu.com Inc., which operates one of China’s most popular Web portals, says it lost $79 million in the latest quarter due to higher expenses as its games and mobile businesses expanded.
Sohu said Monday the loss for the three months ending March 31, equal to $2.05 per share, compared with a $23 million profit for the same period a year earlier.
The Beijing-based company cited higher promotion and compensation costs as its mobile business and Changyou games unit expanded.
Total revenues for the quarter rose 19 percent to $365 million. Online advertising was up 51 percent at $175 million.