Last Update: 29-Jul-13 07:40 ET
Sohu shares fall 2% following in line revenues
Sohu.com (SOHU $68.50 -1.50) reported second quarter earnings of $0.58 per share, which beat estimates, while revenues rose 32.5% year/year to which was line with expectations. Brand advertising revenues were $100 million, up 45% year-over-year and 25% quarter-over-quarter. Sogou revenues were $50 million, up 64% year-over-year and 27% quarter-over-quarter. Online game revenues were $168 million, up 24% year-over-year and 1% quarter-over-quarter.
The company issued guidance for the third quarter with EPS of $0.50-0.55 with revenues of $358-370 million versus which was in Assuming no new grants of share-based awards, we estimate that compensation expenses relating to share-based awards to be around $3-4 million. The estimated impact of this expense is expected to reduce Sohu's fully diluted earnings per share for the third quarter of 2013 under US GAAP by $0.07-0.09.
Sohu.com (SOHU $68.50 -1.50) reported second quarter earnings of $0.58 per share, which beat estimates, while revenues rose 32.5% year/year to which