Nov. 6, 2012 (China Knowledge) - Sohu.com Inc<SOHU
>, which runs one of China's largest web portals, earned US$24 million in net profit in the third quarter of this year, reflecting a YoY decrease of 47% from US$46.8 million.
The huge decrease in net profit was mainly due to increasing expenses in recruit of new staffs, said the company.
The net profit for the quarter was higher than the average forecast of US$17.36 billion made by 7 analysts at Thomson Reuters.
Earnings per American Depositary Share for the three months ended Sep. 30 dropped to US$0.63 from US$1.17.
U.S.-listed Sohu.com said its revenue reached US$285 million in the three-month period, up 23% YoY from US$232.9 million. Of the total revenue, brand advertising revenue increased 2% from a year earlier to US$78 million and online game revenue rose 30% YoY to US$151 million.