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.