Sohu.com Inc. report a better-than-expected Q3 financial, Shares Jump


Sohu.com Inc. (NASDAQ:SOHU), a Chinese online media, search, gaming, community and mobile service group reported its third quarter fiscal 2011 results.

Total revenues in the quarter increased to $232.86 million, an increase of approximately 41.5% from the year-ago quarter net sale of $164.06 million driven by solid performance of their online advertising and online gaming businesses. Analysts had expected the company to report revenue of $228.09 million for the quarter.

Net income attributable to the company was $46.81 million or $1.17 per share as compared to $41.01 million or $1.01 per share in the previous year. Non-GAAP net income was $49.03 million or $1.26 per share versus $45.15 million or $1.16 per share a year earlier. Analysts polled by Thomson Reuters expected the company to report earnings of $1.18 per share on an average.

Going forward to the fourth quarter of 2011, Sohu.com expects non-GAAP net income to be between $50.5 million and $52.5 million and non-GAAP earnings per share to be between $1.30 and $1.35. Further, the company forecasts fourth-quarter total revenues to be between $241 million and $246 million.

Shares of Sohu.com Inc. jumped 2.61% to $70.80 in the pre-market session after gaining 7.51% in the previous trading session.

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