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Sohu's profit drop 74.2% in Q2

Aug. 7, 2012 (China Knowledge) - Inc<SOHU>, which runs one of China's largest web portals, has posted US$11 million-net profit attributable to shareholders on a GAAP basis for the second quarter of 2012, reflecting a 74.2% YoY decline from US$42.7 million achieved in Q1.

On a non-GAAP basis, the U.S.-listed firm's net profit attributable to shareholders for the second quarter of this year reached US$1.6 million.

During the three months ended Jun 30, 2012, the company's GAAP earnings per American Depositary Share were US$0.28, less than US$1.1 in the same period of 2011. Non-GAAP earnings per ADS decreased 65% YoY to US$0.42.

Total revenue for the second quarter of this year surged 29% YoY from US$198.7 million to US$256 million or rose 13% than it realized in the first quarter of this year. Of which, US$69 million was contributed by its online advertising business and US$137 million from its online game business, up 21% and 35% YoY, respectively.

The leading Chinese web portal also estimates that its total revenue for the third quarter of this year to be between US$272 million and US$277 million.

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