Sohu Q3 profit rises, online games help

BEIJING, CHINA: China's No.2 Internet portal Sohu.com Inc  posted higher third-quarter profit helped by strong growth in each of its four major business segments, including online games and brand advertising.

After deducting the share of net income relating to the non-controlling interest, GAAP net income was up 12 percent to $38.7 million, or $1.01 a share, the company said.

Non-GAAP net income rose 21 percent to $45.2 million, or $1.16 a share, from the year-ago period.

Total revenue rose 20 percent to $164.1 million.

Analysts, on average, were expecting earnings of 90 cents a share, on revenue of $156.7 million, according to Thomson Reuters I/B/E/S.

Online games revenue rose 25 percent to $85.6 million, while brand advertising revenue went up 22 percent to $59.1 million, the company said.

For the fourth quarter, Sohu said it expects non-GAAP earnings of $1.10 to $1.15 a share, on revenue of $163 million to $168 million.

Analysts, on average, were expecting fourth-quarter earnings of 95 cents a share, on revenue of $162.6 million, according to Thomson Reuters I/B/E/S.