Thank you for joining Sohu's First Quarter 2020 Earnings Conference Call. Thank you for joining us today to discuss Sohu's first quarter 2020 results. On the call are Chairman and Chief Executive Officer, Dr. Charles Zhang; CFO, Joanna Lv; and Vice President of Finance, James Deng.
Sohu.com Limited (NASDAQ: SOHU), China's leading online media, video, search and gaming business group, today reported unaudited financial results for the fourth quarter and fiscal year ended December 31, 2019.
By Kim Khan
Changyou, which has a portfolio of mobile and computer games including Tian Long Ba Bu, began as a business unit of Sohu.com in 2003 and was later separated. Sohu said it intends to fund the deal primarily through debt. Under the agreement, Sohu will pay $10.8 for each Changyou American Depositary Share (ADS), which represents a premium of 82.4% to the closing price of Changyou ADS on Sept. 6, the last trading day prior to Sohu's proposal to take the company private.
Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), China's leading online media, video, search and gaming business group, today announced that its wholly-owned subsidiary Sohu.com (Game) Limited ("Sohu Game") and a newly-formed wholly-owned subsidiary of Sohu Game, Changyou Merger Co. Limited ("Merger Co.", and together with Sohu and Sohu Game, the "Sohu Group"), have entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with Changyou.com Limited (NASDAQ: CYOU)("Changyou"), pursuant to which the Sohu Group will acquire all outstanding shares of Changyou that Sohu does not already beneficially own in an all-cash transaction implying an equity value of Changyou of approximately $579.0 million (the "Merger").
Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), China's leading online media, video, search and gaming business group, announced that the Company today filed with the Securities and Exchange Commission its Annual Report on Form 20-F for the fiscal year ended December 31, 2019. The Annual Report is available on the Company's investor relations website at http://investors.sohu.com. The Company will provide a hard copy of the Annual Report containing the audited consolidated financial statements of the Company, free of charge, to a shareholder or holder of the Company's American depositary shares upon written request.
Chinese stocks have proved mostly resistant to the chaos in U.S. markets around the coronavirus pandemic as China's economy is largely returning to normal following an earlier outbreak of the virus. News reports revealed that the Trump administration is considering multiple tactics to punish China for being the origin of the virus and to use the country as a scapegoat in his reelection campaign. Prior to the coronavirus, the trade war between the U.S. and China had been one of the biggest factors influencing Chinese stocks, and renewal of Trump's threats could further destabilize the global economy and weaken China's recovery from the pandemic.
Sohu.com's (SOHU) fourth-quarter 2019 results reflect improving online games and other businesses.
Sohu.com Limited (NASDAQ: SOHU), China's leading online media, video, search and gaming business group, today reported unaudited financial results for the first quarter ended March 31, 2020.
Sohu.com Limited (NASDAQ: SOHU), China's leading online media, video, search and gaming business group, will report its fourth quarter and fiscal year 2019 unaudited financial results on Monday, March 9, 2020, before U.S. market hours.
Uber's (UBER) air taxis, accommodating up to four passengers and traveling at a speed of 180 mph to cover trips of up to 60 miles, are planned for a rollout in 2023.
Sohu.com (SOHU) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
NEW YORK, NY / ACCESSWIRE / March 9, 2020 / Sohu.com Ltd. (NASDAQ:SOHU) will be discussing their earnings results in their 2019 Fourth Quarter Earnings call to be held on March 9, 2020 at 8:30 AM Eastern ...
Sohu.com Limited (NASDAQ: SOHU) ("Sohu"), China's leading online media, video, search and gaming business group, today announced that, as contemplated by the previously-announced Agreement and Plan of Merger (the "Merger Agreement"), dated January 24, 2020, by and among Sohu's indirect wholly-owned subsidiary Sohu.com (Game) Limited ("Sohu Game"), Sohu Game's directly wholly-owned subsidiary Changyou Merger Co. Limited ("Changyou Merger Co."), and Changyou.com Limited ("Changyou") (NASDAQ: CYOU), Changyou Merger Co. and Changyou entered into a definitive Plan of Merger (the "Plan of Merger"), which has been filed with the Registrar of Companies of the Cayman Islands, pursuant to which Sohu will acquire all outstanding shares of Changyou it does not already beneficially own, through a merger (the "Changyou Merger") in which Changyou Merger Co. will merge with and into Changyou effective April 17, 2020 (the "Effective Time") with Changyou being the surviving company.
Sohu.com's (SOHU) first-quarter 2020 results reflect improvement in online games business, partially offset by decline in brand advertising revenues.
Shares of Sohu.com (NASDAQ:SOHU) rose 1% in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share rose 66.19% over the past year to ($0.47), which beat the estimate of ($0.72).Revenue of $436,000,000 up by 1.07% from the same period last year, which beat the estimate of $427,850,000.Outlook Earnings guidance hasn't been issued by the company for now.Revenue guidance hasn't been issued by the company for now.How To Listen To The Conference Call Date: May 18, 2020View more earnings on SOHUTime: 07:30 AMET Webcast URL: https://apac.directeventreg.com/der/toRegistration.actionPrice Action 52-week high: $18.5052-week low: $5.41Price action over last quarter: down 11.91%Company Profile Sohu.com Ltd is engaged in providing of search engines and developing of online games. The company has three operating segments namely Sohu, Sogou, and Changyou segment. Sogou provides Search and Search related business, It includes Sogou Search, Sogou Input Method, Recommendation service, Sogou Browser, Sogou Web Directory, Sogou Translation. Sogou generates revenue primarily from its search and search-related advertising services. Changyou provides games through personal computers and mobile devices, such as mobile phones and tablets, connected to the Internet. Changyou's platform channel business consists primarily of the operation of the 17173.com. Sohu's main business is the brand advertising business. It generates maximum revenue from the Sogou segment.See more from Benzinga * Recap: Sea Q1 Earnings * Horizon Global: Q1 Earnings Insights * Twitter: P/E Ratio Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Sohu.com Limited (NASDAQ: SOHU) ("Sohu"), China's leading online media, video, search and gaming business group, today announced that it has completed the acquisition of all of the outstanding shares of Changyou.com Limited ("Changyou") that it did not already beneficially own, through the merger (the "Changyou Merger") of an indirect wholly-owned subsidiary ("Changyou Merger Co.") of Sohu with and into Changyou, with Changyou being the company surviving the Changyou Merger. As a result of the Changyou Merger, Changyou has become a private company wholly owned directly and indirectly by Sohu and the American depositary shares of Changyou (the "Changyou ADSs"), each of which represented two Changyou Class A ordinary shares ("Changyou Class A Ordinary Shares"), are no longer traded on the Nasdaq Global Select Market.
As of late, it has definitely been a great time to be an investor in Sohu.com.
Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), China's leading online media, video, search and gaming business group, today announced that it is updating its previously reported business outlook for the fourth quarter of 2019 ended December 31, 2019. The updated guidance reflects better than expected performance of the online game business, a tax benefit of US$19 million expected to be recognized for preferential enterprise income tax rates of some of Changyou's subsidiaries upon their receipt of 2018 Key National Software Enterprise status or 2018 Software Enterprise status, and an impairment charge of approximately US$23 million expected to be recognized for the quarter for an investment unrelated to the Company's core businesses.
Sohu.com Limited (NASDAQ: SOHU), China's leading online media, video, search and gaming business group, will report its first quarter 2020 unaudited financial results on Monday, May 18, 2020, before U.S. market hours.