SOHU

BEIJING, Aug 10, 2026 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), a leading Chinese online media platform and game business group, today reported unaudited financial results for the second quarter ended June 30, 2026. Second Quarter Highlights[1] Total revenues were US$136 million, up 7% year-over-year and down 4% quarter-over-quarter. Marketing services revenues were US$15 million, down 3% year-over-year and up 21% quarter-over-quarter. Online game revenues were US$116 million, up 10% year-over-year and down 7% quarter-over-quarter. After giving effect to reversal of a tax expense of approximately US$13 million due to a reversal of uncertain tax positions, GAAP net income attributable to Sohu.com Limited was US$0.2 million, compared with a net loss of US$20 million in the second quarter of 2025 and a net loss of US$4 million in the first quarter of 2026. After giving effect to reversal of a tax expense of approximately US$13 million due to a reversal of uncertain tax positions, non-GAAP[2] net income attributable to Sohu.com Limited was US$0.5 million, compared with a net loss of US$20 million in the second quarter of 2025 and a net loss of US$4 million in the first quarter of 2026. Dr. Charles Zhang, Chairman and CEO of Sohu.com Limited, commented, "In the second quarter of 2026, our marketing services revenues, online game revenues and bottom-line performance all exceeded our previous guidance. For the Sohu media platform, we continued to refine our products and host diverse events and activities to stimulate communication and interaction among users, which further strengthened the platform's social features and promoted its vigorous and healthy development. Leveraging our differentiated content and events, we were able to address advertisers' needs and continued to explore diversified monetization opportunities. For our online games, we remained committed to our long-term operation strategy and continued to launch diverse content updates to deliver rich and engaging experiences for game players." Second Quarter Financial Results Revenues Total revenues were US$136 million, up 7% year-over-year and down 4% quarter-over-quarter. Marketing services revenues were US$15 million, down 3% year-over-year and up 21% quarter-over-quarter. Online game revenues were US$116 million, up 10% year-over-year and down 7% quarter-over-quarter. Cost of Revenues Both GAAP and non-GAAP total cost of revenues were US$29 million, up 2% year-over-year and down 3% quarter-over-quarter. Both GAAP and non-GAAP cost of marketing services revenues were US$13 million, up 3% year-over-year and 6% quarter-over-quarter. Both GAAP and non-GAAP cost of online game revenues were US$14 million, down 5% year-over-year and 13% quarter-over-quarter. Operating Expenses Both GAAP and non-GAAP operating expenses were US$125 million, up 4% year-over-year and 6% quarter-over-quarter. Operating Loss GAAP operating loss was US$18 million, compared with an operating loss of US$22 million in the second quarter of 2025 and an operating loss of US$7 million in the first quarter of 2026. Non-GAAP operating loss was US$18 million, compared with an operating loss of US$22 million in the second quarter of 2025 and an operating loss of US$6 million in the first quarter of 2026. Income Tax Expense/(Benefit) Both GAAP and non-GAAP income tax benefit was US$7 million, compared with income tax expense of US$9 million in the second quarter of 2025 and income tax expense of US$7 million in the first quarter of 2026. For the second quarter of 2026, income tax benefit included reversal of a tax expense of approximately US$13 million due to a reversal of uncertain tax positions. Net Income/(Loss) GAAP net income attributable to Sohu.com Limited was US$0.2 million, or net income of US$0.01 per fully-diluted American depositary share ("ADS," each ADS representing one Sohu ordinary share), compared with a net loss of US$20 million in the second quarter of 2025 and a net loss of US$4 million in the first quarter of 2026. Non-GAAP net income attributable to Sohu.com Limited was US$0.5 million, or net income of US$0.02 per fully-diluted ADS, compared with a net loss of US$20 million in the second quarter of 2025 and a net loss of US$4 million in the first quarter of 2026. Liquidity and Capital Resources As of June 30, 2026, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.2 billion. Supplementary Information for Changyou Results[3] Second Quarter 2026 Operating Results For PC games, total average monthly active user accounts[4] (MAU) were 2.6 million, an increase of 10% year-over-year and a decrease of 5% quarter-over-quarter. Total quarterly aggregate active paying accounts[5] (APA) were 1.0 million, an increase of 5% year-over-year and a decrease of 5% quarter-over-quarter. The year-over-year increase in MAU was mainly from Changyou's PC game Tian Long Ba Bu ("TLBB"): Return, which was launched during the third quarter of 2025. For mobile games, total average MAU were 1.7 million, a decrease of 13% year-over-year and 2% quarter-over-quarter. Total quarterly APA were 0.2 million, a decrease of 24% year-over-year and 11% quarter-over-quarter. The year-over-year and quarter-over-quarter decreases in MAU and APA were mainly due to the natural decline of some of Changyou's older games. Second Quarter 2026 Unaudited Financial Results Total revenues were US$117 million, an increase of 9% year-over-year and a decrease of 7% quarter-over-quarter. Online game revenues were US$116 million, an increase of 10% year-over-year and a decrease of 7% quarter-over-quarter. Both GAAP and non-GAAP total cost of revenues were US$14 million, a decrease of 5% year-over-year and 11% quarter-over-quarter. Both GAAP and non-GAAP operating expenses were US$47 million, an increase of 14% year-over-year and 8% quarter-over-quarter. The year-over-year and quarter-over-quarter increases were mainly due to an increase in licensing fees related to product development. GAAP operating profit was US$55 million, compared with US$50 million for the second quarter of 2025 and US$65 million for the first quarter of 2026. Non-GAAP operating profit was US$56 million, compared with US$51 million for the second quarter of 2025 and US$66 million for the first quarter of 2026. Recent Development Sohu today announced that on August 8, 2026 its board of directors amended the period of Sohu's previously-announced share repurchase program by removing the previous end date of November 10, 2026 and authorizing repurchases under the program to continue on an open-ended basis until the maximum authorized amount is reached. As previously announced, Sohu may purchase up to US$150 million of the outstanding ADSs of Sohu from time to time under the program at Sohu's management's discretion at prevailing market prices in accordance with Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934. Sohu's management will continue to determine the timing and amount of any purchases of ADSs based on their evaluation of market conditions, the trading price of ADSs and other factors. The share repurchase program may be suspended or discontinued at any time. As of August 6, 2026, Sohu had repurchased 9.4 million ADSs for an aggregate cost of approximately US$124 million under the program. Business Outlook For the third quarter of 2026, Sohu estimates: Marketing services revenues to be between US$14 million and US$15 million; this implies an annual increase of 3% to 10%, and a sequential decrease of 1% to 8%. Online game revenues to be between US$105 million and US$115 million; this implies an annual decrease of 29% to 35%, and a sequential decrease of 1% to 10%. Both non-GAAP and GAAP net loss attributable to Sohu.com Limited to be between US$13 million and US$23 million. For the third quarter 2026 guidance, the Company has adopted a presumed exchange rate of RMB6.81=US$1.00, as compared with the actual exchange rate of approximately RMB7.13=US$1.00 for the third quarter of 2025, and RMB6.84=US$1.00 for the second quarter of 2026. This forecast reflects Sohu's management's current and preliminary view, which is subject to substantial uncertainty. Non-GAAP Disclosure To supplement the unaudited consolidated financial statements presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), Sohu's management uses non-GAAP measures of gross profit, operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited and diluted net income/(loss) attributable to Sohu.com Limited per ADS, which are adjusted from results based on GAAP to exclude the impact of share-based compensation expense. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. Sohu's management believes excluding share-based compensation expense from the Company's non-GAAP financial measures is useful for itself and investors. Further, the impact of share-based compensation expense could not be anticipated by management and business line leaders, and these expenses were not built into the annual budgets and quarterly forecasts that have been the basis for information Sohu provides to analysts and investors as guidance for future operating performance. As share-based compensation expense does not involve subsequent cash outflow and is not reflected in the cash flows at the equity transaction level, Sohu does not factor in its impact when evaluating and approving expenditures or when determining the allocation of its resources to its business segments. As a result, in general, the monthly financial results for internal reporting and any performance measures for commissions and bonuses are based on non-GAAP financial measures that exclude share-based compensation expense. The non-GAAP financial measures are provided to enhance investors' overall understanding of Sohu's current financial performance and prospects for the future. A limitation of using non-GAAP gross profit, operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited, and diluted net income/(loss) attributable to Sohu.com Limited per ADS excluding share-based compensation expense is that this expense has been and can be expected to continue to recur in Sohu's business. In order to mitigate these limitations Sohu has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between the GAAP financial measures that are most directly comparable to the non-GAAP financial measures that have been presented. Notes to Financial Information Financial information in this press release other than the information indicated as being non-GAAP is derived from Sohu's unaudited financial statements prepared in accordance with GAAP. Safe Harbor Statement This announcement contains forward-looking statements. It is currently expected that the Business Outlook will not be updated until release of Sohu's next quarterly earnings announcement; however, Sohu reserves right to update its Business Outlook at any time for any reason. Statements that are not historical facts, including statements about Sohu's beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, instability in global financial and credit markets and its potential impact on the Chinese economy; exchange rate fluctuations, including their potential impact on the Chinese economy and on Sohu's reported U.S. dollar results; fluctuations in Sohu's quarterly operating results; the possibilities that Sohu will be unable to recoup its investment in content and will be unable to develop a series of successful games for mobile platforms or successfully monetize mobile games it develops or acquires; and Sohu's reliance on marketing services offerings and online games for its revenues. Further information regarding these and other risks is included in Sohu's annual report on Form 20-F for the year ended December 31, 2025, and other filings with and information furnished to the U.S. Securities and Exchange Commission. Conference Call and Webcast Sohu's management team will host a conference call at 7:30 a.m. U.S. Eastern Time, August 10, 2026 (7:30 p.m. Beijing/Hong Kong time, August 10, 2026) following the quarterly results announcement. Participants can register for the conference call by clicking here, which will lead them to the conference registration website. Upon registration, participants will receive details for the conference call, including the dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin. The live Webcast and archive of the conference call will be available on the Investor Relations section of Sohu's website at https://investors.sohu.com/. About Sohu Sohu.com Limited (NASDAQ: SOHU) was established by Dr. Charles Zhang, one of China's internet pioneers, in the 1990s. Sohu operates one of the leading Chinese online media platforms and also engages in the online game business in the Chinese mainland. Sohu has built one of the most comprehensive matrices of Chinese language web properties, consisting of Sohu News App, Sohu Video App, the mobile portal m.sohu.com, the PC portal www.sohu.com, and the online games platform https://www.changyou.com/en/. As a mainstream media platform with social features, Sohu is indispensable to the daily life of millions of Chinese, providing to a vast number of users a network of web properties and community based products, which offer a broad array of content, such as news and information, in the form of text, picture, video, and live broadcasting. Sohu also attracts users to actively engage in content generation and distribution, and actively interact with each other on the platform. Sohu's online game business is conducted by its subsidiary Changyou, which develops and operates a diverse portfolio of PC and mobile games, such as the well-known TLBB PC and Legacy TLBB Mobile. For investor and media inquiries, please contact: Sohu.com LimitedMs. Pu HuangTel: +86 (10) 6272-6645E-mail: [email protected] Christensen Advisory E-mail: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/sohucom-reports-second-quarter-2026-unaudited-financial-results-302846862.html

Interested in Sohu.com Inc.? Here are five stocks we like better. Sohu’s second-quarter revenue rose 7% year over year to $136 million, while the company returned to profitability with GAAP net income of $200,000, helped in part by a roughly $30 million tax-expense reversal. Marketing services exceeded expectations despite a cautious advertising market, while online games outperformed on stronger results from older TLBB titles and content updates. Management expects older games to decline naturally in the third quarter. Sohu projects third-quarter revenue of $145 million to $165 million but anticipates a net loss of $23 million to $30 million. Its open-ended buyback has repurchased 9.4 million ADSs for approximately $124 million, leaving about $26 million of authorization. Sohu.com (NASDAQ:SOHU) reported second-quarter 2026 revenue of $136 million, up 7% from a year earlier but down 4% from the prior quarter, as marketing services and online game revenue both exceeded the company’s previous guidance. Chairman and Chief Executive Officer Charles Zhang said the company’s marketing services revenue, online game revenue and bottom-line performance surpassed expectations during the quarter. Marketing services revenue totaled $15 million, down 3% year over year and up 21% sequentially, while online game revenue reached $116 million, up 10% from a year earlier and down 7% from the first quarter. → MarketBeat Week in Review – 08/03 - 08/07 GAAP net income attributable to Sohu was $200,000, compared with a net loss of $20 million in the second quarter of 2025 and a $4 million net loss in the first quarter. The result included the reversal of approximately $30 million in tax expense related to previously uncertain tax positions. On a non-GAAP basis, net income attributable to Sohu was $500,000, versus net losses of $20 million a year earlier and $4 million in the prior quarter. Zhang said Sohu’s media and social platform continued to refine its products, improve user engagement and combine offline events with online communities to encourage interaction and premium content creation. The company held events including its Sohu Video Influencers spring convention, K-pop dancing festival, Hanfu model competition, campus activities, outdoor and sports events, World Cup-related viewing parties, and its annual science and technology conference. → Quantum Earnings Week: Winners and Losers Are Finally Emerging The company also continued to use proprietary content franchises, including Charles’s Physics Class and Charles’s English Class, to attract users and offer marketing solutions to advertisers. Zhang said the English program marked its 10th anniversary and has conducted more than 2,000 live broadcasts. Despite the quarter’s sequential growth in marketing services revenue, Zhang said the broader advertising environment remained weak. → Take-Two’s Q1 Results Leave GTA 6 Bulls Stuck in the Fog of War “The macroeconomic situation is still very bad, actually bad and sloppy,” Zhang said during the question-and-answer session. “Advertisers are now very cautious in spending.” He said advertisers have increasingly shifted away from traditional channel advertising and toward marketing approaches designed to create viral distribution through key opinion leaders and social networks. Sohu was able to outperform its forecast because of its marketing offerings, including combinations of online social platform campaigns, livestreaming and offline activities, Zhang said. Auto represented 33% of the company’s advertising business, followed by fast-moving consumer goods at 20% and information technology at 17%, according to Zhang. He said all three categories were facing cautious spending conditions. Zhang also said the World Cup was not expected to have a meaningful effect on advertising revenue. Rather, Sohu’s World Cup activities are intended primarily to attract and develop users through viewing events and related social engagement. Sohu’s online game business benefited from content updates and promotional activity across the Tian Long Ba Bu, or TLBB, franchise. During the quarter, the company introduced crossover content tied to the “Storm Riders” Wuxia comic franchise for regular TLBB PC and TLBB Vintage, launched a new character-development system for regular TLBB PC, and added gameplay content to TLBB: Return. For mobile games, Changyou launched an anniversary expansion pack and in-game promotions for Legacy TLBB Mobile. Zhang said those activities increased player engagement and that the title’s revenue remained stable sequentially. Changyou Chief Executive Officer Dewen Chen said performance during the first nearly two months of the third quarter was broadly in line with expectations, though the final outcome will depend on the reception of upcoming content and activities. Chen said the second-quarter outperformance was driven largely by stronger-than-expected performance from older games, including TLBB PC, where expansion packs performed well with players. However, the company expects a natural decline in those older games during the third quarter because they have been operating for a long time. Looking ahead, management said it plans to release additional expansion packs and content updates for the TLBB series and other titles. Sohu also said it intends to further develop the TLBB intellectual property, maintain its position in massively multiplayer online role-playing games and diversify its portfolio with other game types aimed at global audiences. For the third quarter, Sohu forecast marketing services revenue of $40 million to $50 million, representing year-over-year growth of 3% to 10% and a sequential decline of 1% to 8%. The company expects online game revenue of $105 million to $115 million, down 29% to 35% from a year earlier and down 1% to 10% sequentially. Sohu expects both GAAP and non-GAAP net loss attributable to the company to range from $30 million to $23 million in the third quarter. Management said the forecast is based on its current preliminary review and remains subject to substantial uncertainty. The company also updated investors on its share repurchase authorization. As of Aug. 6, Sohu had repurchased 9.4 million American depositary shares for approximately $124 million. The board authorized the program to continue on an open-ended basis until the maximum $150 million authorization is reached. Zhang said the open-ended extension was necessary because daily trading-volume limits made it unlikely that the company could complete the remaining roughly $26 million of authorized repurchases by the program’s previous November expiration date. Sohu.com Inc (NASDAQ: SOHU) is a Beijing-based technology and media company that operates one of China's earliest and most comprehensive online portals. Established in 1996 by Charles Zhang, the company provides a diverse array of internet services including news, entertainment, video streaming and UGC (user-generated content) platforms. Over the years, Sohu.com has expanded its content offerings to cover topics such as finance, sports, automotive news and lifestyle, catering primarily to users across Mainland China. In addition to its content portal, Sohu.com is active in the online advertising market, leveraging its high-traffic websites and mobile apps to deliver targeted ads for brand marketers. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Sohu.com Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

BEIJING, July 31, 2026 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU), a leading Chinese online media platform and game business group, will report its second quarter 2026 unaudited financial results on Monday, August 10, 2026, before U.S. market hours. Sohu's management team will host a conference call on the same day at 7:30 a.m. U.S. Eastern Time, August 10, 2026 (7:30 p.m. Beijing/Hong Kong time, August 10, 2026) following the quarterly results announcement. Conference Call Preregistration Participants can register for the conference call by clicking here, you will be led to the conference registration website. Upon registration, each participant will receive details for the conference call, including dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin. The live webcast and archive of the conference call will be available on the Investor Relations section of Sohu's website at https://investors.sohu.com/. About Sohu Sohu.com Limited (NASDAQ: SOHU) was established by Dr. Charles Zhang, one of China's internet pioneers, in the 1990s. Sohu operates one of the leading Chinese online media platforms and also engages in the online game business in the Chinese mainland. Sohu has built one of the most comprehensive matrices of Chinese language web properties, consisting of Sohu News App, Sohu Video App, the mobile portal m.sohu.com, the PC portal www.sohu.com, and the online games platform www.changyou.com/en/. As a mainstream media platform with social features, Sohu is indispensable to the daily life of millions of Chinese, providing to a vast number of users a network of web properties and community based products, which offer a broad array of content, such as news and information, in the form of text, picture, video, and live broadcasting. Sohu also attracts users to actively engage in content generation and distribution, and actively interact with each other on the platform. Sohu's online game business is conducted by its subsidiary Changyou, which develops and operates a diverse portfolio of PC and mobile games, such as the well-known Tian Long Ba Bu ("TLBB") PC and Legacy TLBB Mobile. For investor and media inquiries, please contact: Sohu.com LimitedMs. Pu HuangTel: +86 (10) 6272-6645E-mail: [email protected] Christensen Advisory E-mail: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/sohucom-to-report-second-quarter-2026-financial-results-on-august-10-2026-302839683.html

Image source: The Motley Fool. Monday, May 18, 2026 at 5 a.m. ET Chairman and CEO — Charles Zhang Chief Financial Officer — Joanna Lv Charles Zhang: Thanks, Huang, and thank you, everyone, for joining our call. In the first quarter of 2026, our marketing services revenue, online game revenue and bottom line performance all exceeded our previous guidance. For the Sohu Media platform, we will continue to focus on promoting a healthy and vibrant atmosphere on our platform with a series of differentiated events. At the same time, we kept refining our products to cater to users' needs, leveraging our unique events and brand influence, we were able to explore new monetization opportunities. For online games, we delivered another solid quarter, driven by a wealth of high-quality content and targeted operational refinements that resonated with our diverse [indiscernible] player base. Before going through each business unit in more detail, let me first give you a quick overview of our financial performance. For the first quarter of 2026, total revenues were $141 million, up 4% year-over-year and down 1% quarter-over-quarter. Marketing Services revenues were $13 million, down 8% year-over-year and 26% quarter-over-quarter. Online game revenues were $125 million up 6% year-over-year and 3% quarter-over-quarter. GAAP net loss attributable to Sohu.com Limited was $4 million compared with a net income of $182 million in the first quarter of 2025 and a net income of $223 million in the fourth quarter of 2025. Non-GAAP net loss attributable to Sohu.com Limited was $4 million loss and $4 million -- loss, net loss in compared with a net loss of $16 million in the first quarter of 2025 and a net income of $261 million in the fourth quarter of 2025. Now I'll go through our key businesses in more detail. First, Sohu media platform. In the fourth quarter of 2026, we continue to integrate resources in depth and upgrade our products with cutting-edge technologies. We offer users [indiscernible] various practical and user [indiscernible] functions to optimize the user experience, enhance user engagement and further promote dissemination of content. At the same time, we kept focusing on promoting a vigorous atmosphere in our community and fostering a prosperous platform ecosystem. Benefiting from unique off-line events we held, we provided users with plenty of interaction opportunities, improve the social engagement and generating abundant premium content that was widely spread over the Internet. In March, for example, in March, we successfully held the 18th Sohu News Marathon in Hong Kong and offline seminar of our physics class in Hong Kong. This season's marathon attracted active participation by celebrities and broadcasters nationwide, greatly promoting total interactions on our platform. Meanwhile, the Charles' Physics Class [indiscernible] debut at the Hong Kong University of Science and Technology, bringing in-depth physics knowledge to the public. Both events were well received by audiences. Thereby, creating a strong synergy between our flagship IPs and further expanding our brand influence. In April, we hosted the 2026 Spring Convention of Sohu Video Influencers [indiscernible], which has been held biannually for the past 3 years. We invited celebrities and gathered influencers from various fields, including verticals popular with young users such as K-pop and Hanfu verticals in professional field such as science and health. The convention created a chance for broadcasters to interact in person, promoting content generation and dissemination and doing genuine social connections. During the quarter, we also launched the 2026 Sohu K-Pop Dancing Festival competition throughout the year and also the 2026 Hanfu Chinese Costume Model Competition, also a year-long event to further consolidate our influence and appeal in these areas. We continue to combine off-line events with online interactions and to update our profile and the standard of our competition. With these efforts, we garnered widespread attention and attractive some[indiscernible] guest with shared interest to participate and interact on our platform. We continue to leverage our unique content and live broadcasting technology while exploring new business opportunities to provide targeted marketing solution for advertisers through our innovative and customized events and campaigns such as the Cloud IP, it's a deriving traffic to the platform given to unlock monetization potential. Next, turning to our online game business. During the quarter, our online game business performed well with revenues exceeding our prior guidance. In our PC game business, we rolled out various holiday events around the Chinese New Year and Valentine's Day as well as the promotion events for the regular TLBB PC, which helped sustain stable player engagement. Apart from holiday events, we also introduced a new [ full client ] for TLBB luggage which boosted player enthusiasm. Meanwhile, we continue to update and refine TLBB return to secure its long-term by tenants. Turning to our mobile side the mobile game business, we launched an expansion pack for Legacy TLBB mobile to celebrate the Chinese year along with the diverse online offline events, earning for this gain stayed largely stable on a sequential basis. Next quarter, we will continue to launch expansion tax and content updates for the TLBB services and other titles to further keep players engaged. Looking ahead, we will remain committed to our top game strategy. On the product development front, we will stay being anchored in a user-centric approach and here to adhere to a systematic R&D processes while driving the implementation of new technologies to enhance efficiency and product success rate. Regarding our pipeline, we seek to further unlock the potential of our TLBB IP. Meanwhile, as we maintain our competitive edge in the MMRO RPGs, we will continue to diversify our portfolio with multiple types of games and expand our product offerings with global appeal. Now I'd like to provide an update on the ongoing share repurchase program. As of May 13, 2026, Sohu has repurchased 8.7 million ADS from aggregated cost of approximately $160 million. With that, I'll turn now the call to our CFO, Joanna. Joanna? Joanna Lv: Thank you, Charles. I will now walk you through the key financials of our major segments for the first quarter of 2026. All the numbers on a non-GAAP basis. You may find a reconciliation of non-GAAP to GAAP measures on our IR website. Social media platform. Quarterly revenues were $16 million compared with $70 million in the same quarter last two year. Quarterly operating loss was $70 million flat with the same quarter last year. For Changyou, quarterly revenues, $125 million compared with $180 million in the same quarter last year. Quarterly operating profit, $66 million compared with operating profit of $55 million in the same quarter last year. For the second quarter of 2026, we expect Marketing services revenue to be between $30 million and $40 million. This implies annual decrease of 10% to 17% and a sequential increase of 4% to 11%. Online game revenues to be between $104 million and $114 million. This implies annual decrease of 2% to an annual increase of 8% and a sequential decrease of 8% to 17%. Both non-GAAP and GAAP net loss attributable to Sohu.com Limited to be between $50 million and $25 million. This forecast reflects focus management's current and preliminary view, which is subject to substantial uncertainty. This concludes our prepared remarks. Operator, we would now like to open the call to questions. Operator: [Operator Instructions]. We will now take our first question. And our first question comes from the line of Thomas Chong at Jefferies. Thomas Chong: I have a couple of questions. I think first is on our marketing services on our advertising revenue. Can management comment about how we should think about the advertising outlook in the second half and full year. And in particular, we are going to soon to have well [indiscernible]. Would this be a big positive to our advertising revenue in Q2 and Q3? And my second question is about the gaming business. Can you comment about the quarter-to-date performance so far, we are seeing in Q2. You see more likely to hit the low end or the high end of the revenue guidance? And my third question is about the earnings outlook. Given our solid performance in Q1, and we are expecting the losses to widen sequentially in Q2. I'm just wondering, is this a conservative assumption? And should we use Q2 as a benchmark to project Q3 and Q4 bottom line? Charles Zhang: Okay, Thomas. So the first question about marketing services revenue, right? Q2 forecast, as Joanna said, is going to be [ $13 million ] right? [ $13 million ] [ 7% ] sequential growth compared with the Q1. First of all, the overall economy situation is kind of in the downturn, economic situation and advertisers tend to be cautious in spending. We were -- we are able to maintain some growth because we have our unique and differentiated marketing solutions and events, especially we can take advantage of our growing network and also influencers and also some IPs like my own physics class IP and the offline events like the [indiscernible] competition [indiscernible]. We have quite unique tailor-made or customized marketing spend based on available like our own platform and also its activities. So your next question is about the overall year outlook or from the Q2. I think it will be similar [indiscernible]. About the -- game, right, the game so the first quarter is good. And then for the sake time, do you want to that second part last is at the low end or half end, right? Joanna Lv: [Interpreted] So far, the performance of the second quarter is largely in line with our expectation. And the level of revenue will largely depend on the performance of the content and activities we plan to roll out for our TLBB series games to see whether they can satisfy users' needs. So far, we believe it is in line with our expectation. Also, as we plan to roll out fewer promotional and revenue boosting activities in the second quarter, so we expect our gaming revenue to experience a natural decline. Charles Zhang: So the game TLBB return that was in Q1 did have impact, but Q3 revenue decline in the year-over-year [indiscernible]. So you have a third question, Thomas? [indiscernible]? Thomas Chong: Yes. On the bottom line because Q1, we are better than expected. But Q2, we are seeing sequential widening of the losses. So just want to see if Q2 is a benchmark for Q3 and Q4? Charles Zhang: I think this year, Q2 and Q3 will be similar to last year because on the marketing service side, on the platform side, we are basically about the same. We're still working on our total network and make sure that we have a larger user base so that we can have an uptick. But now still we are maintaining a stable and advertising growth. So the Q2 results or the earnings drop compared with Q1, mainly because of gaming revenue, right, is much less than Q1, I just described. Operator: We will now take our next question from the line of Alicia Yap, Citi. Alicis a Yap: I have 2 follow-ups on the earlier questions. So I guess you mentioned on, I think, the second quarter, obviously the guidance. it is a bit weaker than I expected in terms of the sequential trend that typically we would see from the 1Q to 2Q, even though sequentially is growth. But then I think the year-over-year decline seems to be worse than the first quarter year-over-year decline. I'm just wondering, is the macro getting even weaker than what you had previously expected, let's say, compared to 5 months ago in the beginning of the year. So yes, any color you can share with overall the macro outlook? Is that worse than what you had previously expected? And then on the operating loss. I just wanted to make sure I did not hear it wrong. For this 1Q, the marketing ad business is the operating loss was $70 million. I just wanted to double check on that because I think our revenue is only like $14 million or $15 million, but then we are losing $70 million. So it seems like the expense is about double of the revenue. So I just wanted to make sure I heard it correctly. And then if so, then where will the money got spent? Is it mostly on the product development? Or is it on the user acquisition? Charles Zhang: So first, let's answer your last question about the -- what you have a question about the loss, the marketing spend in Q1. What number you're talking about... Alicis a Yap: Is it $70 million, the op loss for ad business? Charles Zhang: $70 million of what? We don't have a $70 million? Alicis a Yap: Operating loss. Charles Zhang: Operating loss? $70 million operating loss in Q1? Alicis a Yap: On social media platform, the operating losses in Q1 $70 million. Charles Zhang: Yes. Is there I mean it's similar, right, to the previous? Alicis a Yap: Flat with the same quarter in the last quarter. Charles Zhang: Yes, it's similar to previous quarters... Alicis a Yap: Yes. Charles Zhang: We didn't spend more money just as we did before the previous quarters. Mostly through -- I think well, we don't -- it's either on user acquisition or on product development. So it's altogether because we are building -- actually, we have 3 social network products. One is Sohu Video [indiscernible]. We also have [indiscernible] and also have Sohu News app and also turn that into a [indiscernible]. So -- and also for each of the products, especially for the Sohu Video -- we do spend some money on the user acquisition and also the team cost and also product development. So it's similar to previous quarters. It's until we really -- until we have a really successful product that, I would say, explore into a much larger scale. Now the -- and also considering the macroeconomic situation, [indiscernible] dollars will not be able to cover the cost that we are incurred on product and user acquisition similar [ $10 million ] per quarter. Alicis a Yap: Okay. Okay. And then on the revenue, the guidance, is that worse than you expected? Charles Zhang: That's because the macro funds compared to last year, right? It's worse than last year because the [indiscernible] companies there because of the year competition and the low margin so we are more cautious in spending less. And we have to come up with really unique events or opportunities -- so like, for example, I have to -- myself, I have to apply this [indiscernible] IP to try to explain to give lecture about the products, the engines and also why the current is better. So it's -- and also sometimes organize our users and influencers to borrowers whatever. But we have to have differentiated unique opportunities to have a marketing solution offered to them so that we compare with a few years ago, few years ago, they are just -- it's an easy decision to spend to advertise, but now it's very difficult. Alicis a Yap: I see. I see. Just lastly to follow up. Can you share with us, I know you mentioned auto is one of the industry vertical probably cutting back the ad budgets. Any other vertical that you're actually seeing is also facing more cautious ad budgets? Charles Zhang: It's across the board, all companies basically. Because just the Chinese consumers are spending less, consumers are spending less. That's why those companies are not making money or making good money. That's why they are actually reduced their ad reduction [indiscernible] dollars. In auto or IT and FMCG and across the board, both... Alicis a Yap: Maybe just lastly, in terms of the first quarter on your advertising revenue contribution by industry vertical, if you can rank them by the contribution percentage? Charles Zhang: 19% -- auto industry 19%, IT services like home appliances and electronics and that's 19% and FMCG 14%. There are some good sign in the IT sector because the traditional home appliances now because of the IT AI, they are all turning into AI product with intelligence. So that's -- we have seen a lot of new kind of products that tend to market to the market that's like for example, I went to the Shanghai AWE, and see a lot of new traditional home products, home appliance electronics with Chinese [indiscernible], turning really a lot of that's an opportunity. Alicis a Yap: I see. I see. And then -- so that is you are seeing decent budget. And then in terms of the second quarter, should we also rank maybe you are seeing more upbeat from the IT and then maybe FMCG also okay, but then weaker in auto. Is that fair to assume that on the second quarter? Charles Zhang: Yes. The second quarter, the auto a fierce competition, yes, -- and also the electric vehicle is higher -- more penetration of electric vehicle into the market share. And I would say similar, right? The auto industry is gradually, right? And now they're all trying to export more to the European market or to the Middle East, right? So domestically, the consumption consuming power is really a problem. People are not spending money. Too saturated, right? Because people are paying their mortgage, that's why they don't have money to spend, right? They're all paying the high housing price mortgage. That's a major -- that's the most -- the biggest problem with the Chinese economy, but people all have debt and have to pay back -- to pay their mortgage. So they don't have -- they don't have the money to spend on other things. Operator: [Operator Instructions] I am showing no further questions. And with that, we conclude our conference call for today. Thank you for your participation. You may now disconnect your lines. 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See the 10 stocks » *Stock Advisor returns as of May 27, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Sohu (SOHU) Q1 2026 Earnings Call Transcript was originally published by The Motley Fool

BEIJING, May 18, 2026 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), a leading Chinese online media platform and game business group, today reported unaudited financial results for the first quarter ended March 31, 2026. First Quarter Highlights Total revenues were US$141 million, up 4% year-over-year and down 1% quarter-over-quarter. Marketing services revenues were US$13 million, down 8% year-over-year and 26% quarter-over-quarter. Online game revenues were US$125 million, up 6% year-over-year and 3% quarter-over-quarter. GAAP net loss attributable to Sohu.com Limited was US$4 million, compared with net income[1] of US$182 million in the first quarter of 2025 and net income[2] of US$223 million in the fourth quarter of 2025. Non-GAAP[3] net loss attributable to Sohu.com Limited was US$4 million, compared with a net loss of US$16 million in the first quarter of 2025 and net income[2] of US$261 million in the fourth quarter of 2025. Dr. Charles Zhang, Chairman and CEO of Sohu.com Limited, commented, "In the first quarter of 2026, our marketing services revenues, online game revenues, and bottom-line performance all exceeded our previous guidance. For the Sohu media platform, we continued to focus on promoting a healthy and vibrant atmosphere on our platform with a series of differentiated events. At the same time, we kept refining our products to cater to users' needs. Leveraging our unique events and brand influence, we were able to explore new monetization opportunities. For our online games, we delivered another solid quarter, driven by a wealth of high-quality content and targeted operational refinements that resonated with our diverse player base." First Quarter Financial Results Revenues Total revenues were US$141 million, up 4% year-over-year and down 1% quarter-over-quarter. Marketing services revenues were US$13 million, down 8% year-over-year and 26% quarter-over-quarter. Online game revenues were US$125 million, up 6% year-over-year and 3% quarter-over-quarter. Cost of Revenues Both GAAP and non-GAAP total cost of revenues were US$30 million, down 10% year-over-year and 15% quarter-over-quarter. Both GAAP and non-GAAP cost of marketing services revenues were US$13 million, up 2% year-over-year and down 21% quarter-over-quarter. Both GAAP and non-GAAP cost of online game revenues were US$16 million, down 12% year-over-year and 11% quarter-over-quarter. Operating Expenses GAAP operating expenses were US$118 million, down 3% year-over-year and 32% quarter-over-quarter. GAAP operating expenses for the fourth quarter of 2025 included a goodwill impairment charge of approximately US$37 million. Non-GAAP operating expenses were US$118 million, down 3% year-over-year and 13% quarter-over-quarter. Operating Loss GAAP operating loss was US$7 million, compared with an operating loss of US$19 million in the first quarter of 2025 and an operating loss of US$66 million in the fourth quarter of 2025. Non-GAAP operating loss was US$6 million, compared with an operating loss of US$19 million in the first quarter of 2025 and an operating loss of US$29 million in the fourth quarter of 2025. Income Tax Expense/(Benefit) GAAP income tax expense was US$7 million, compared with income tax benefit of US$189 million in the first quarter of 2025 and income tax benefit of US$280 million in the fourth quarter of 2025. GAAP income tax benefit for the first quarter of 2025 included a reversal of a tax expense that had been recognized as an uncertain tax position in previous years, and related accrued interest expense, in a total amount of approximately $199 million. Non-GAAP income tax expense was US$7 million, compared with income tax expense of US$10 million in the first quarter of 2025 and income tax benefit of US$280 million in the fourth quarter of 2025. Both GAAP and non-GAAP income tax benefit for the fourth quarter of 2025 reflected the reversal in that quarter of previously accrued withholding income tax of approximately US$285 million, due to a revision of the dividend policy for Changyou. Net Income/(Loss) GAAP net loss attributable to Sohu.com Limited was US$4 million, or net loss of US$0.17 per fully-diluted American depositary share ("ADS," each ADS representing one Sohu ordinary share), compared with net income of US$182 million in the first quarter of 2025 and net income of US$223 million in the fourth quarter of 2025. Non-GAAP net loss attributable to Sohu.com Limited was US$4 million, or net loss of US$0.16 per fully-diluted ADS, compared with a net loss of US$16 million in the first quarter of 2025 and net income of US$261 million in the fourth quarter of 2025. Liquidity and Capital Resources As of March 31, 2026, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.2 billion. Supplementary Information for Changyou Results[4] First Quarter 2026 Operating Results For PC games, total average monthly active user accounts[5] (MAU) were 2.7 million, an increase of 17% year-over-year and a decrease of 2% quarter-over-quarter. Total quarterly aggregate active paying accounts[6] (APA) were 1.0 million, an increase of 7% year-over-year and a decrease of 4% quarter-over-quarter. The year-over-year increases in MAU and APA were mainly from Changyou's PC game Tian Long Ba Bu ("TLBB"): Return, which was launched during the third quarter of 2025. For mobile games, total average MAU were 1.7 million, a decrease of 20% year-over-year and 9% quarter-over-quarter. Total quarterly APA were 0.3 million, a decrease of 22% year-over-year and 12% quarter-over-quarter. The decreases in MAU and APA were mainly due to the natural decline of Changyou's older games. First Quarter 2026 Unaudited Financial Results Total revenues were US$125 million, an increase of 6% year-over-year and 3% quarter-over-quarter. Online game revenues were US$125 million, an increase of 6% year-over-year and 3% quarter-over-quarter. Both GAAP and non-GAAP total cost of revenues were US$16 million, a decrease of 15% year-over-year and 13% quarter-over-quarter. GAAP operating expenses were US$44 million, a decrease of 3% year-over-year and 24% quarter-over-quarter. Non-GAAP operating expenses were US$44 million, a decrease of 2% year-over-year and 24% quarter-over-quarter. GAAP operating profit was US$65 million, compared with US$54 million for the first quarter of 2025 and US$45 million for the fourth quarter of 2025. Non-GAAP operating profit was US$66 million, compared with US$55 million for the first quarter of 2025 and US$45 million for the fourth quarter of 2025. Recent Development Under the previously-announced share repurchase program of up to US$150 million of the outstanding ADSs, Sohu had repurchased 8.7 million ADSs for an aggregate cost of approximately US$116 million as of May 13, 2026. Business Outlook For the second quarter of 2026, Sohu estimates: Marketing services revenues to be between US$13 million and US$14 million; this implies an annual decrease of 10% to 17%, and a sequential increase of 4% to 11%. Online game revenues to be between US$104 million and US$114 million; this implies an annual decrease of 2% to an annual increase of 8%, and a sequential decrease of 8% to 17%. Both non-GAAP and GAAP net loss attributable to Sohu.com Limited to be between US$15 million and US$25 million. For the second quarter 2026 guidance, the Company has adopted a presumed exchange rate of RMB6.87=US$1.00, as compared with the actual exchange rate of approximately RMB7.19=US$1.00 for the second quarter of 2025, and RMB6.95=US$1.00 for the first quarter of 2026. This forecast reflects Sohu's management's current and preliminary view, which is subject to substantial uncertainty. Non-GAAP Disclosure To supplement the unaudited consolidated financial statements presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), Sohu's management uses non-GAAP measures of gross profit, operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited and diluted net income/(loss) attributable to Sohu.com Limited per ADS, which are adjusted from results based on GAAP to exclude the impact of share-based compensation expense; impairment of goodwill; and the income tax benefit in connection with the Toll Charge and related accrued interest expense. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. Sohu's management believes excluding share-based compensation expense; impairment of goodwill; and the income tax benefit in connection with the Toll Charge and related accrued interest expense from the Company's non-GAAP financial measures is useful for itself and investors. Further, the impact of share-based compensation expense; impairment of goodwill; and the income tax benefit in connection with the Toll Charge and related accrued interest expense could not be anticipated by management and business line leaders, and these expenses were not built into the annual budgets and quarterly forecasts that have been the basis for information Sohu provides to analysts and investors as guidance for future operating performance. As share-based compensation expense, and impairment of goodwill do not involve subsequent cash outflow and are not reflected in the cash flows at the equity transaction level, Sohu does not factor in their impact when evaluating and approving expenditures or when determining the allocation of its resources to its business segments. As a result, in general, the monthly financial results for internal reporting and any performance measures for commissions and bonuses are based on non-GAAP financial measures that exclude share-based compensation expense, and impairment of goodwill, and also exclude the income tax benefit in connection with the Toll Charge and related accrued interest expense. The non-GAAP financial measures are provided to enhance investors' overall understanding of Sohu's current financial performance and prospects for the future. A limitation of using non-GAAP gross profit, operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited, and diluted net income/(loss) attributable to Sohu.com Limited per ADS excluding share-based compensation expense is that this expense has been and can be expected to continue to recur in Sohu's business. It is also possible that impairments of goodwill will recur in the future. In order to mitigate these limitations Sohu has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between the GAAP financial measures that are most directly comparable to the non-GAAP financial measures that have been presented. Notes to Financial Information Financial information in this press release other than the information indicated as being non-GAAP is derived from Sohu's unaudited financial statements prepared in accordance with GAAP. Safe Harbor Statement This announcement contains forward-looking statements. It is currently expected that the Business Outlook will not be updated until release of Sohu's next quarterly earnings announcement; however, Sohu reserves right to update its Business Outlook at any time for any reason. Statements that are not historical facts, including statements about Sohu's beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, instability in global financial and credit markets and its potential impact on the Chinese economy; exchange rate fluctuations, including their potential impact on the Chinese economy and on Sohu's reported U.S. dollar results; fluctuations in Sohu's quarterly operating results; the possibilities that Sohu will be unable to recoup its investment in content and will be unable to develop a series of successful games for mobile platforms or successfully monetize mobile games it develops or acquires; and Sohu's reliance on marketing services offerings and online games for its revenues. Further information regarding these and other risks is included in Sohu's annual report on Form 20-F for the year ended December 31, 2025, and other filings with and information furnished to the U.S. Securities and Exchange Commission. Conference Call and Webcast Sohu's management team will host a conference call at 5:00 a.m. U.S. Eastern Time, May 18, 2026 (5:00 p.m. Beijing/Hong Kong time, May 18, 2026) following the quarterly results announcement. Participants can register for the conference call by clicking here, which will lead them to the conference registration website. Upon registration, participants will receive details for the conference call, including the dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin. The live Webcast and archive of the conference call will be available on the Investor Relations section of Sohu's website at https://investors.sohu.com/. About Sohu Sohu.com Limited (NASDAQ: SOHU) was established by Dr. Charles Zhang, one of China's internet pioneers, in the 1990s. Sohu operates one of the leading Chinese online media platforms and also engages in the online game business in the Chinese mainland. Sohu has built one of the most comprehensive matrices of Chinese language web properties, consisting of Sohu News App, Sohu Video App, the mobile portal m.sohu.com, the PC portal www.sohu.com, and the online games platform www.changyou.com/en/. As a mainstream media platform with social features, Sohu is indispensable to the daily life of millions of Chinese, providing to a vast number of users a network of web properties and community based products, which offer a broad array of content, such as news and information, in the form of text, picture, video, and live broadcasting. Sohu also attracts users to actively engage in content generation and distribution, and actively interact with each other on the platform. Sohu's online game business is conducted by its subsidiary Changyou, which develops and operates a diverse portfolio of PC and mobile games, such as the well-known TLBB PC and Legacy TLBB Mobile. For investor and media inquiries, please contact: Sohu.com Limited Ms. Pu HuangTel: +86 (10) 6272-6645E-mail: [email protected] Christensen AdvisoryE-mail: [email protected]         View original content to download multimedia:https://www.prnewswire.com/news-releases/sohucom-reports-first-quarter-2026-unaudited-financial-results-302774377.html

This article first appeared on GuruFocus. Total Revenue: $141 million, up 4% year-over-year, down 1% quarter-over-quarter. Marketing Services Revenue: $13 million, down 8% year-over-year, down 26% quarter-over-quarter. Online Game Revenue: $125 million, up 6% year-over-year, up 3% quarter-over-quarter. Net Loss Attributable to Sohu.com Limited: $4 million, compared with net income of $182 million in Q1 2025 and $123 million in Q4 2025. Non-GAAP Net Loss: $4 million, compared with a net loss of $16 million in Q1 2025 and net income of $261 million in Q4 2025. Social Media Platform Revenue: $16 million, compared with $17 million in the same quarter last year. Social Media Platform Operating Loss: $17 million, flat compared to the same quarter last year. Changyou Revenue: $125 million, compared with $118 million in the same quarter last year. Changyou Operating Profit: $66 million, compared with $55 million in the same quarter last year. Share Repurchase Program: 8.7 million ADS repurchased at an aggregated cost of approximately $116 million as of May 13, 2026. Warning! GuruFocus has detected 3 Warning Sign with SOHU. Is SOHU fairly valued? Test your thesis with our free DCF calculator. Release Date: May 18, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Sohu.com Ltd (NASDAQ:SOHU) exceeded previous guidance in marketing services revenue, online game revenue, and bottom-line performance for Q1 2026. The company successfully held unique offline events, such as the social news marathon and the Sohu video influencers convention, enhancing user engagement and brand influence. Online game business performed well, with revenues exceeding prior guidance, driven by high-quality content and targeted operational refinements. Sohu.com Ltd (NASDAQ:SOHU) continues to explore new monetization opportunities through unique events and brand influence. The company is committed to a user-centric approach in product development, aiming to enhance efficiency and product success rate. Marketing services revenues decreased by 8% year-over-year and 26% quarter-over-quarter. Net loss attributable to Sohu.com Ltd (NASDAQ:SOHU) was $4 million, compared to a net income of $182 million in Q1 2025. The company expects a sequential widening of losses in Q2 2026, indicating potential financial challenges ahead. The macroeconomic environment is challenging, with advertisers being cautious in spending due to economic downturns. Operating loss for the social media platform was $17 million, indicating high expenses relative to revenue. Q: Can management comment on the advertising outlook for the second half and full year, especially with the upcoming World Cup? A: Charles Zhang, CEO, stated that the Q2 forecast for marketing services revenue is between $13 million and $15 million, reflecting a 7% sequential growth. Despite a downturn in the overall economic situation, Sohu aims to maintain growth through unique and differentiated marketing solutions and events. Q: How is the gaming business performing in Q2, and is it likely to hit the low or high end of the revenue guidance? A: Joanna Lv, CFO, mentioned that Q2 is largely in line with expectations. The revenue level will depend on the performance of content and activities planned for the TLBB series games. Fewer promotional activities are expected, leading to a natural decline in gaming revenue. Q: Given the solid performance in Q1, why is there an expectation of widening losses in Q2? Is this a conservative assumption for Q3 and Q4? A: Charles Zhang explained that Q2 and Q3 will be similar to last year, with stable advertising growth. The earnings drop compared to Q1 is mainly due to a decrease in gaming revenue. Q: Is the macroeconomic outlook worse than previously expected, and what is the operating loss for the marketing ad business? A: Charles Zhang confirmed that the macroeconomic situation is challenging, with cautious spending by advertisers. The operating loss for the marketing ad business was $17 million, similar to previous quarters, with expenses on user acquisition and product development. Q: Can you share the advertising revenue contribution by industry vertical for Q1? A: Charles Zhang stated that the auto industry contributed 19%, IT services and home appliances 19%, and FMCG 14%. The IT sector shows some positive signs due to AI product developments. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

BEIJING, May 8, 2026 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU), a leading Chinese online media platform and game business group, will report its first quarter 2026 unaudited financial results on Monday, May 18, 2026, before U.S. market hours. Sohu's management team will host a conference call on the same day at 5:00 a.m. U.S. Eastern Time, May 18, 2026 (5:00 p.m. Beijing/Hong Kong time, May 18, 2026) following the quarterly results announcement. Conference Call Preregistration Participants can register for the conference call by clicking here, you will be led to the conference registration website. Upon registration, each participant will receive details for the conference call, including dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin. The live webcast and archive of the conference call will be available on the Investor Relations section of Sohu's website at https://investors.sohu.com/. About Sohu Sohu.com Limited (NASDAQ: SOHU) was established by Dr. Charles Zhang, one of China's internet pioneers, in the 1990s. Sohu operates one of the leading Chinese online media platforms and also engages in the online game business in the Chinese mainland. Sohu has built one of the most comprehensive matrices of Chinese language web properties, consisting of Sohu News App, Sohu Video App, the mobile portal m.sohu.com, the PC portal www.sohu.com, and the online games platform www.changyou.com/en/. As a mainstream media platform with social features, Sohu is indispensable to the daily life of millions of Chinese, providing to a vast number of users a network of web properties and community based products, which offer a broad array of content, such as news and information, in the form of text, picture, video, and live broadcasting. Sohu also attracts users to actively engage in content generation and distribution, and actively interact with each other on the platform. Sohu's online game business is conducted by its subsidiary Changyou, which develops and operates a diverse portfolio of PC and mobile games, such as the well-known Tian Long Ba Bu ("TLBB") PC and Legacy TLBB Mobile. For investor and media inquiries, please contact: Sohu.com Limited Ms. Pu Huang Tel: +86 (10) 6272-6645 E-mail: [email protected] Christensen Advisory E-mail: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/sohucom-to-report-first-quarter-2026-financial-results-on-may-18-2026-302766598.html