BEIJING, Aug. 4, 2025 /PRNewswire/ — Sohu.com Limited (NASDAQ: SOHU) (“Sohu” or the “Company”), a leading Chinese online media platform and game business group, today reported unaudited financial results for the second quarter ended June 30, 2025.

Second Quarter Highlights

• Total revenues were US$126 million, down 27% year-over-year and 7% quarter-over-quarter.
• Marketing services revenues were US$16 million, down 21% year-over-year and up 14% quarter-over-quarter.
• Online game revenues were US$106 million, down 28% year-over-year and 10% quarter-over-quarter.
• GAAP net loss attributable to Sohu.com Limited was US$20 million, compared with a net loss of US$38 million in the second quarter of 2024 and net income^[1] of US$182 million in the first quarter of 2025.
• Non-GAAP^[2] net loss attributable to Sohu.com Limited was US$20 million, compared with a net loss of US$34 million in the second quarter of 2024 and a net loss of US$16 million in the first quarter of 2025.

Dr. Charles Zhang, Chairman and CEO of Sohu.com Limited, commented, “In the second quarter of 2025, our marketing services revenues were in line with our expectations while our online game revenues and bottom-line performance hit the high end of our guidance. For the Sohu media platform, we continued to focus on refining products, enhancing the operation of our social networks, and improving synergies across our product matrix. During the quarter, we hosted differentiated events that not only attracted numerous participants with shared interests, but also encouraged them to build social connections and interact vibrantly with each other on our platform. With these efforts, we were able to increase user engagement, further consolidate our brand influence, and capture more monetization opportunities. Our online games delivered solid results, underpinned by our dedication to serving users’ needs through compelling new content and continual optimization of our games.”

Second Quarter Financial Results 

Revenues

Total revenues were US$126 million, down 27% year-over-year and 7% quarter-over-quarter.

Marketing services revenues were US$16 million, down 21% year-over-year and up 14% quarter-over-quarter.

Online game revenues were US$106 million, down 28% year-over-year and 10% quarter-over-quarter.

Gross Margin

Both GAAP and non-GAAP gross margin were 78%, compared with 67% in the second quarter of 2024 and 76% in the first quarter of 2025.

Both GAAP and non-GAAP gross margin for the marketing services business were 17%, compared with 20% in the second quarter of 2024 and 10% in the first quarter of 2025.

Both GAAP and non-GAAP gross margin for online games were 86%, compared with 76% in the second quarter of 2024 and 85% in the first quarter of 2025.

Operating Expenses

Both GAAP and non-GAAP operating expenses were US$120 million, down 25% year-over-year and 1% quarter-over-quarter.

Operating Loss

GAAP operating loss was US$22 million, compared with an operating loss of US$44 million in the second quarter of 2024 and an operating loss of US$19 million in the first quarter of 2025.

Non-GAAP operating loss was US$22 million, compared with an operating loss of US$45 million in the second quarter of 2024 and an operating loss of US$19 million in the first quarter of 2025.

Income Tax Expense/(Benefit)

GAAP income tax expense was US$9 million, compared with income tax expense of US$9 million in the second quarter of 2024 and income tax benefit of US$189 million in the first quarter of 2025. In the first quarter of 2025, the Company reversed a tax expense that it had recognized as an uncertain tax position in previous years, and related accrued interest expense, in a total amount of approximately $199 million.

Non-GAAP income tax expense was US$9 million, compared with income tax expense of US$5 million in the second quarter of 2024 and income tax expense of US$10 million in the first quarter of 2025.

Net Income/(Loss)

GAAP net loss attributable to Sohu.com Limited was US$20 million, or a net loss of US$0.69 per fully-diluted American depositary share (“ADS,” each ADS representing one Sohu ordinary share), compared with a net loss of US$38 million in the second quarter of 2024 and net income of US$182 million in the first quarter of 2025.

Non-GAAP net loss attributable to Sohu.com Limited was US$20 million, or a net loss of US$0.68 per fully-diluted ADS, compared with a net loss of US$34 million in the second quarter of 2024 and a net loss of US$16 million in the first quarter of 2025.

Liquidity and Capital Resources

As of June 30, 2025, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.2 billion.

Supplementary Information for Changyou Results^[3]

Second Quarter 2025 Operating Results

• For PC games, total average monthly active user accounts^[4] (MAU) were 2.3 million, an increase of 6% year-over-year and flat quarter-over-quarter. Total quarterly aggregate active paying accounts^[5] (APA) were 0.9 million, an increase of 8% year-over-year and a decrease of 3% quarter-over-quarter. The year-over-year increases in MAU and APA were mainly due to the improved performance of some of our older games, including Tian Long Ba Bu (“TLBB”) PC, resulting from content updates and optimization launched during recent quarters.
• For mobile games, total average MAU were 1.9 million, a decrease of 60% year-over-year and 9% quarter-over-quarter. Total quarterly APA were 0.3 million, a decrease of 72% year-over-year and 9% quarter-over-quarter. The year-over-year decreases in MAU and APA were mainly due to the natural decline of New Westward Journey, which was launched in the Chinese mainland market during the second quarter of 2024. The quarter-over-quarter decreases were mainly due to the natural decline of Journey Renewed: Fate Fantasy, the international version of New Westward Journey, which was launched during the fourth quarter of 2024.

Second Quarter 2025 Unaudited Financial Results

Total revenues were US$107 million, a decrease of 28% year-over-year and 10% quarter-over-quarter. Online game revenues were US$106 million, a decrease of 28% year-over-year and 10% quarter-over-quarter.

Both GAAP and non-GAAP gross profit were US$92 million, compared with US$112 million for the second quarter of 2024 and US$99 million for the first quarter of 2025.

GAAP operating expenses were US$42 million, a decrease of 48% year-over-year and 8% quarter-over-quarter. The year-over-year decrease was mainly due to a decrease in marketing and promotional spending for our online games.

Non-GAAP operating expenses were US$41 million, a decrease of 48% year-over-year and 8% quarter-over-quarter.

GAAP operating profit was US$50 million, compared with US$32 million for the second quarter of 2024 and US$54 million for the first quarter of 2025.

Non-GAAP operating profit was US$51 million, compared with US$32 million for the second quarter of 2024 and US$55 million for the first quarter of 2025.

Recent Development

Under the previously-announced share repurchase program of up to US$150 million of the outstanding ADSs, Sohu had repurchased 6.6 million ADSs for an aggregate cost of approximately US$83 million as of July 31, 2025.

Business Outlook

For the third quarter of 2025, Sohu estimates:

• Marketing services revenues to be between US$14 million and US$15 million; this implies an annual decrease of 20% to 25%, and a sequential decrease of 4% to 10%.
• Online game revenues to be between US$107 million and US$117 million; this implies an annual decrease of 8% to 16%, and a sequential increase of 1% to 10%. 
• Both non-GAAP and GAAP net loss attributable to Sohu.com Limited to be between US$25 million and US$35 million.

For the third quarter 2025 guidance, the Company has adopted a presumed exchange rate of RMB7.15=US$1.00, as compared with the actual exchange rate of approximately RMB7.12=US$1.00 for the third quarter of 2024, and RMB7.19=US$1.00 for the second quarter of 2025.

This forecast reflects Sohu’s management’s current and preliminary view, which is subject to substantial uncertainty.

Non-GAAP Disclosure

To supplement the unaudited consolidated financial statements presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), Sohu’s management uses non-GAAP measures of gross profit, operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited and diluted net income/(loss) attributable to Sohu.com Limited per ADS, which are adjusted from results based on GAAP to exclude the impact of share-based compensation expense; changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments; and the income tax benefit in connection with the Toll Charge and related accrued interest expense. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.

Sohu’s management believes excluding share-based compensation expense; changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments; and the income tax benefit in connection with the Toll Charge and related accrued interest expense from the Company’s non-GAAP financial measures is useful for itself and investors. Further, the impact of share-based compensation expense; changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments; and the income tax benefit in connection with the Toll Charge and related accrued interest expense could not be anticipated by management and business line leaders and these expenses were not built into the annual budgets and quarterly forecasts that have been the basis for information Sohu provides to analysts and investors as guidance for future operating performance. As share-based compensation expense, and changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments do not involve subsequent cash outflow or are reflected in the cash flows at the equity transaction level, Sohu does not factor in their impact when evaluating and approving expenditures or when determining the allocation of its resources to its business segments. As a result, in general, the monthly financial results for internal reporting and any performance measures for commissions and bonuses are based on non-GAAP financial measures that exclude share-based compensation expense and changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments, and also exclude the income tax benefit in connection with the Toll Charge and related accrued interest expense.

The non-GAAP financial measures are provided to enhance investors’ overall understanding of Sohu’s current financial performance and prospects for the future. A limitation of using non-GAAP gross profit, operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited, and diluted net income/(loss) attributable to Sohu.com Limited per ADS excluding share-based compensation expense is that this expense has been and can be expected to continue to recur in Sohu’s business. It is also possible that changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments, will recur in the future. In order to mitigate these limitations Sohu has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between the GAAP financial measures that are most directly comparable to the non-GAAP financial measures that have been presented.

Notes to Financial Information

Financial information in this press release other than the information indicated as being non-GAAP is derived from Sohu’s unaudited financial statements prepared in accordance with GAAP.

Safe Harbor Statement

This announcement contains forward-looking statements. It is currently expected that the Business Outlook will not be updated until release of Sohu’s next quarterly earnings announcement; however, Sohu reserves right to update its Business Outlook at any time for any reason. Statements that are not historical facts, including statements about Sohu’s beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, instability in global financial and credit markets and its potential impact on the Chinese economy; exchange rate fluctuations, including their potential impact on the Chinese economy and on Sohu’s reported U.S. dollar results; fluctuations in Sohu’s quarterly operating results; the possibilities that Sohu will be unable to recoup its investment in content and will be unable to develop a series of successful games for mobile platforms or successfully monetize mobile games it develops or acquires; and Sohu’s reliance on marketing services and online games for its revenues. Further information regarding these and other risks is included in Sohu’s annual report on Form 20-F for the year ended December 31, 2024, and other filings with and information furnished to the SEC.

Conference Call and Webcast 

Sohu’s management team will host a conference call at 7:30 a.m. U.S. Eastern Time, August 4, 2025 (7:30 p.m. Beijing/Hong Kong time, August 4, 2025) following the quarterly results announcement. Participants can register for the conference call by clicking here, which will lead them to the conference registration website. Upon registration, participants will receive details for the conference call, including the dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

The live Webcast and archive of the conference call will be available on the Investor Relations section of Sohu’s website at https://investors.sohu.com/.

About Sohu

Sohu.com Limited (NASDAQ: SOHU) was established by Dr. Charles Zhang, one of China’s internet pioneers, in the 1990s. Sohu operates one of the leading Chinese online media platforms and also engages in the online games business in the Chinese mainland. Sohu has built one of the most comprehensive matrices of Chinese language web properties, consisting of Sohu News App, Sohu Video App, the mobile portal m.sohu.com, the PC portal www.sohu.com, and the online games platform www.changyou.com/en/.

As a mainstream media platform with social features, Sohu is indispensable to the daily life of millions of Chinese, providing to a vast number of users a network of web properties and community based products, which offer a broad array of content such as news, information, text, picture, video, and live broadcasting. Sohu also attracts users to be highly engaged in content generation and distribution, and actively interact with each other on the platform. Sohu’s online games business is conducted by its subsidiary Changyou which develops and operates a diverse portfolio of PC and mobile games, such as the well-known TLBB PC and Legacy TLBB Mobile.

For investor and media inquiries, please contact:

In China:

Ms. Pu Huang
Sohu.com Limited
Tel: +86 (10) 6272-6645
E-mail: ir@contact.sohu.com

In the United States:

Ms. Linda Bergkamp
Christensen
Tel: +1 (480) 614-3004
E-mail: linda.bergkamp@christensencomms.com

.

KUALA LUMPUR, Malaysia, Aug. 4, 2025 /PRNewswire/ — The countdown has begun. With just one week to go, Kind Malaysia 2025 returns for its 4^th powerful edition, once again championing kindness as a unifying force for social change. Since its inception in 2018, Kind Malaysia has stood as a platform dedicated to bridging the gap between corporations, NGOs, social enterprises and individuals, inspiring collective action and lasting impact.

This year, Kind Malaysia takes a transformative leap forward, co-locating for the first time with EventXpo, Malaysia’s premier business events marketplace. This landmark partnership connects corporate responsibility with economic resilience, amplifying both platforms under the shared vision that “Kindness Unites Humanity” and “Business Events Build Nations.”

The synergy between the two events is expected to draw unprecedented participation from the business events community, NGOs, CSR leaders, and members of the public, making Kind Malaysia 2025 the most dynamic and impactful edition yet.

“Kind Malaysia is a unique platform with a powerful purpose; to unite corporations, NGOs and individuals in the spirit of giving. As Chairman, I believe that kindness must be a central pillar in the development of our society. In today’s world, where challenges grow more complex, collaboration and compassion must guide the way forward. Kind Malaysia offers that space, where business meets benevolence, and where impact begins with intention.” said Tan Sri Asmat Kamaludin, Chairman of Kind Malaysia.

“Kind Malaysia was founded on a powerful belief that when corporations and communities come together, meaningful and lasting change can happen. Our co-location with EventXpo this year strengthens that mission by uniting purpose with platform, and proving that kindness, when embedded in business, becomes a force for nation-building. To our corporate leaders, I urge you to come forward, not just as observers, but as active changemakers. And to our NGOs, this is your moment to be seen, heard, and supported.” – Datuk Dr M Gandhi, Co-Founder of Kind Malaysia & President of MACEOS

What to Expect at Kind Malaysia 2025:

• 27 participating NGOs across vital causes: Animal Welfare, Children’s Rights, Women’s Empowerment, Disabilities, Medical & Health, and Youth Development, among others.
• On-site CSR activations, NGO showcases, real-time volunteer sign-ups, and direct engagement opportunities for corporates and the public.
• Better World Corner: Bite-sized pocket talks by NGO leaders sharing raw, real stories of impact from the field.
• Carbon Footprint Calculation: In partnership with ESG Malaysia, the event will adopt ESG best practices including carbon footprint measurement and reporting, ensuring sustainability remains at the core of our mission.

Driving Corporate Social Responsibility Forward

Kind Malaysia 2025 proudly welcomes a growing list of CSR and sustainability partners, including MACEOS, ESG Malaysia, Evenesis, Artisense, and Web Temple, each contributing expertise, technology and purpose-driven support. Together, we’re creating a platform where businesses give back, and communities move forward.

Whether you’re a company seeking meaningful CSR partnerships, an NGO championing a cause, or an individual with a heart to help, Kind Malaysia 2025 is your place to connect, contribute, and create real change.

Admission is free and open to all. Register now at https://form.evenesis.com/eventxpo2025/VISITOR  or visit www.mykindmalaysia.com

PR Newswire is the official news distribution partner of Kinds Malaysia 2025.

Pioneering solution provides scientists with actionable answers faster to accelerate scientific discovery

COLUMBUS, Ohio, Aug. 4, 2025 /PRNewswire/ — CAS, a division of the American Chemical Society specializing in scientific knowledge management, announces the launch of the next evolution of CAS SciFinder®, the leading scientific search and insights platform. By integrating advanced AI—optimized for scientific applications—with the largest human-curated collection of global scientific knowledge, CAS SciFinder empowers researchers across R&D to work faster and unlock new opportunities for innovation.

This marks the most significant integration of AI within the CAS solution portfolio to date. “Scientific information is diverse and complex, making it challenging for common AI tools to interpret accurately,” noted Tim Wahlberg, CAS Chief Product Officer. “Applying these technologies to the high-quality, structured data in the CAS Content Collection™ and engaging our team of scientists to verify the advanced AI models enabled us to develop a science-smart AI approach that delivers accurate and reliable answers scientists can trust.”

SearchSense, a collection of new AI-driven search capabilities in CAS SciFinder, was developed to make scientific information more accessible across R&D workflows and help researchers reach actionable answers faster. With a single search box, users can initiate a broad range of inquiries by asking simple questions using natural language. AI-enabled summaries help users quickly interpret results and pinpoint the most relevant information to provide a clear answer they trust. Ninety-three percent of beta testers agree that the new search features in CAS SciFinder make them more efficient. The platform also learns from user activity to personalize results and streamline future searches. To ensure the security of all user queries, results, and interactions in CAS SciFinder, AI features operate within a closed system.

CAS also continues to lead innovation in retrosynthesis with the introduction of the first real-time, interactive synthetic planning tool. This is a paradigm shift for chemists that slashes the time needed to generate a synthetic plan from minutes to just a few seconds. By eliminating wait times and providing real-world evidence directly in synthetic maps for quick comparison, Interactive Retrosynthesis in CAS SciFinder significantly increases efficiency and enables greater creativity in reaction planning and optimization. Scientist-enhanced AI is also being leveraged for more accurate interpretation of users’ reaction queries to deliver unmatched search accuracy and precision within the largest collection of curated reaction information.

To address a growing need among scientists and stakeholders in all phases of R&D to have greater visibility of the intellectual property (IP) landscape, additional IP search support, visualization capabilities, and patent details have also been added to CAS SciFinder. Users can now easily identify prior art within their typical workflow with the help of IP Connections. This CAS-developed AI algorithm matches relevant patent and non-patent publications from any free-text input to inform more confident prioritization and reduce the risk of wasted time and investment.

“The process of scientific discovery is constantly evolving, and we are committed to advancing our solutions with the latest technology to provide the best insights, most efficient workflow, and an optimal user experience to meet our customers’ changing needs,” said Manuel Guzman, President of CAS. “With so many scientists around the globe relying on CAS SciFinder, these new capabilities meaningfully impact the speed of discovery and ultimately help deliver life-changing innovations faster.

Visit the CAS SciFinder preview site to learn more about the new features, which will be deployed to users in phases over the next two months.

About CAS

CAS connects the world’s scientific knowledge to accelerate breakthroughs that improve lives. We empower global innovators to efficiently navigate today’s complex data landscape and make confident decisions in each phase of the innovation journey. As a specialist in scientific knowledge management, our team builds the largest authoritative collection of human-curated scientific data in the world and provides essential information solutions, services, and expertise. Scientists, patent professionals, and business leaders across industries rely on CAS to help them uncover opportunities, mitigate risks, and unlock shared knowledge so they can get from inspiration to innovation faster. Connect with us at cas.org. CAS is a division of the American Chemical Society.

FWD Group, YCH Group, and The Hong Kong Jockey Club to be recognized for aligning their technology and business strategies to accelerate growth

SINGAPORE, Aug. 4, 2025 /PRNewswire/ — Forrester (Nasdaq: FORR) today announced that FWD Group and YCH Group are the winners of its 2025 Technology Strategy Impact Award for Asia Pacific and that The Hong Kong Jockey Club is the APAC winner of its Enterprise Architecture (EA) Award. These awards, which will be presented at Technology & Innovation Summit APAC, taking place in Sydney, Australia, and digitally, on August 19, 2025, will recognize these organizations for aligning their technology strategies to accelerate business outcomes.

“This year’s Technology Award winners exemplify how aligning tech strategy with business goals can drive measurable impact,” said Frederic Giron, VP and senior research director at Forrester. “These organizations delivered trusted, secure, and resilient technology foundations that empower their organizations to adapt swiftly to market shifts and evolving customer needs. Their successes reflect a deep commitment to using technology as a catalyst for innovation, growth, and long-term value. We look forward to hearing their success stories at Technology & Innovation Summit APAC.”

Information about Forrester’s 2025 Technology Strategy Impact Award winners and runner-up:

• FWD Group (winner), a pan-Asian life and health insurer operating with a bold vision of changing the way people feel about insurance, adopted a customer-led and tech-enabled approach in its business. Through its cloud-first strategy, AI-powered platforms, and a relentless focus on customer experience, FWD has transformed itself into a high-performance IT organization: one that is agile, trusted, and aligned to deliver measurable business impact.
• YCH Group (winner), a Singapore-based logistics company, partnered with Y3 Technologies Pte Ltd to execute a major technology transformation across Asia Pacific. The company operates integrated supply chain solutions to deploy automation, AI, IoT, and data platforms to modernize warehousing, distribution, and trade finance operations. By integrating robotics-enabled facilities with autonomous logistics systems, YCH is advancing a digitally connected, intelligent supply chain that serves customers across multiple industries in the region.  
• AIA Group, a leading insurance provider in Asia, is a runner-up for Forrester’s 2025 Technology Strategy Impact Award for APAC.

Information about Forrester’s 2025 Enterprise Architecture Award winner and runners-up, presented in partnership with The Open Group:

• The Hong Kong Jockey Club (winner), a non-profit organization and providing horse racing, sporting and betting entertainment, embraced a disciplined, outcome-driven enterprise architecture (EA) strategy to modernize its digital capabilities, strengthen governance, and enhance its stakeholder experience. Their structured EA governance framework allowed faster evaluation of digital investments. For example, mobile-first customer platforms, digital-led venue experiences, and predictive analytics for customer engagement were architecturally guided to ensure resilience, scalability, and alignment with customer-centricity and enterprise goals.
• Insurance providers AIA Group and Nan Shan Life Insurance Co., Ltd are runners-up for Forrester’s 2025 Enterprise Architecture Award for APAC.

Resources:

• Read more about the winners and runners-up of Forrester’s Technology Strategy Impact Award and Enterprise Architecture Award.
• Register to attend Forrester’s 2025 Technology & Innovation Summit APAC.
• For members of the press interested in attending, please contact press@forrester.com.

About Forrester

Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We empower leaders in technology, customer experience, digital, marketing, sales, and product functions to be bold at work and accelerate growth through customer obsession. Our unique research and continuous guidance model helps executives and their teams achieve their initiatives and outcomes faster and with confidence. To learn more, visit Forrester.com.