Sohu Profit Beats Estimates on China Online Ad Sales
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Sohu.com Inc., owner of China’s fourth-most visited website, posted a better-than-estimated 41 percent gain in profit after the company raised prices and boosted services such as video sharing.
Fourth-quarter net income jumped to $41.5 million, or $1.07 a share, from $29.4 million, or 76 cents, a year earlier, Sohu said in a statement today. The Beijing-based company was expected to post profit of $38.6 million, based on the average of eight analysts’ estimates compiled by Bloomberg. Sales rose 27 percent to $173.2 million.