Sohu.com Ltd. Q4 FY2024 earnings call

• Sohu Media platform focused on refining products, optimizing algorithms, and controlling budgets. Hosted various events like K-pop dancing tours, Guofeng Festival, Fashion Awards, and Finance Annual Forum. Enriched content library with TV dramas, original dramas, and American TV series. - Online game business delivered solid performance with new game launches, expansion packs, and renewed gameplays. Continues to focus on top game strategy, international expansion, and R&D optimization. - Share repurchase program: As of February 13th, 2025, 4.2 million ADS were repurchased at an aggregated cost of approximately $52 million.

For the fourth quarter of 2024, Sohu Media platform (including Sohu Media and Video) had quarterly revenues of $24 million. The online game business (including Changyou's online game business and 17173) had quarterly revenues of $111 million. For the full year 2024, Sohu Media platform revenues were $91 million, and online game revenues were $506 million. Brand advertising revenues in Q4 2024 were $19 million, down 7% year-over-year; online game revenues in Q4 2024 were $110 million, down 4% year-over-year. For the full year 2024, brand advertising revenues were $73 million, down 17% compared to 2023; online game revenues were $502 million, up 5% compared to 2023.

For Q1 2025, brand advertising revenues are expected to be between $30 million and $40 million (sequential decrease 26%-31%, year-over-year decrease 13%-19%). Online game revenues are between $105 million and $115 million (sequential change 4% to +5%). Non-GAAP net loss attributable to Sohu.com Limited is between $16 million and $26 million, GAAP net loss is between $20 million and $30 million.

Forward-looking statements involve inherent risks and uncertainties. Important factors could cause actual results to differ materially from forward-looking statements. Refer to company's filings with the Securities and Exchange Commission for potential risks and uncertainties.

Q: About brand advertising business, reason behind Q1 guidance and gaming business trend.

A: Macro economic situation leads to less advertiser spending. Gaming performance in Q1 has a wide range due to various factors.

Q: Macro sentiment on advertising budget, sub-sector ad spend, consumer behavior, and share repurchase outstanding.

A: FMCG is top advertiser sector. Share repurchase: 4.2 million ADS repurchased, $100 million remaining in the $150 million approved buyback program.