Sohu profit tumbles to $2 million, revenue up

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Associated Press

Posted on February 10, 2014 at 11:05 AM

BEIJING (AP) — Chinese portal Sohu.com Inc. says its latest quarterly profit tumbled to $2 million due to higher expenses but revenue rose 29 percent.

The earnings reported Monday for the three months ended Dec. 31 were down 91 percent from the $23 million reported for the same quarter a year earlier. The Beijing-based company said revenue rose 29 percent from a year earlier to $385 million.

The company was squeezed by a 78 percent rise in operating expenses that it said was due mainly to a bigger staff and increased costs for marketing and promotion.

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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