Web portal Sohu says profit down 20 percent

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Associated Press

Posted on October 28, 2013 at 6:06 AM

Updated Monday, Oct 28 at 6:06 AM

BEIJING (AP) — Sohu.com Inc., operator of a popular Chinese Web portal, says its latest quarterly profit is down 20 percent due to higher expenses but revenues are up.

Sohu said Monday it earned $41 million in the three months ended Sept. 30. compared with $51.5 million a year earlier. Revenue rose 29 percent over a year earlier to $368 million.

Profits were squeezed by a 53 percent rise in operating expenses due to more staff and higher costs for marketing, especially for mobile products and online games.

Sohu provides entertainment, games and communication services. Its properties include search engine Sogou, games company Changyou, and an online video site.

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