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China’s Sohu Reports Record Revenue To Nasdaq

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Chinese search and games operator Sohu (NSDQ: SOHU) hit record revenue during its eleventh year on the Nasdaq.

Earnings at its Sogou search site more than quadrupled from the previous year to $198.7 million, and are up a hefty 71 percent from the previous quarter.

But search is one of the smaller parts of Sohu’s business; it only has 2.4 percent search market share. It’s gaming, through its Changyou division, where Sohu is focused. There, quarterly revenue rose by nearly a third over the year to $101.5 million.

Changyou bought the majority of online game developer firm 7Road earlier this year and last week launched Duke Of Mount Deer, only its second game developed in-house. It has licensed Electronic Arts’ Battlefield Online game for China.

CEO Dr Charles Zhang says: “Changyou is successfully transforming itself into a diversified gaming company and escalating our leading position in China’s online gaming industry.”

Net income rose by more than a third to $61.6 million after expenses rose by the same rate. The company has $718 million in cash.