Cinese online media company Sohu.com said its Q3 profits slipped despite higher revenues…it has net earnings of $8.03 million, down 3.6% from $8.33 million in the year-ago period. Revenue rose to $28.3 million from $25.9 million and gross margin was 65% vs. 68% last year.
Sohu’s ad revenues were $18.8 million, up 21% from last year, and its operating expensed increased 18% from a year ago. It posted 6% sequential growth in its wireless revenue as it continues to recover from a Chinese government crackdown on mobile messaging.
Earlier in the day, Sohu said it was chosen as the official Internet Content Sponsor for the Beijing 2008 Olympic Games.
More details in the release…
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