Sohu.com Limited (SOHU) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

August 7, 2023 7:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by, and good evening. Thank you for joining Sohu's Second Quarter 2023 Earnings Conference Call. [Operator Instructions]. After management's prepared remarks, there will be a question-and-answer session. Today's conference call is being recorded. If you have any objections, you may disconnect at this time.

I'll now turn the conference over to your host for today's call, Huang Pu, Investor Relations Director of Sohu. Please go ahead.

Huang Pu

Thanks, operator. Thank you for joining us to discuss Sohu's second quarter 2023 results. On the call are Chairman and Chief Executive Officer, Charles Zhang; CFO, Joanna Lv; and Vice President of Finance, James Deng. Also, with us are Changyou’s CEO, Dewen Chen; and CEO, Yaobin Wang.

Before management begins their prepared remarks, I would like to remind you of the safe harbor statement in connection with today's conference call. Except for the historical information contained herein, the matters discussed on this call may contain forward-looking statements. These statements are based on current plans, estimates, and projections.

Therefore, you should not place undue release 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 containing any forward-looking statements. For more information about the potential risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission. including the most recent annual report on Form 20-F.

With that, I'll now turn the call over to Charles Zhang. Charles, please proceed.

Charles Zhang

Thanks, Huang Pu, and thank you, everyone, for joining our call. In the second quarter of 2023, we delivered stable performance with both revenues and the bottom line meeting our expectations. At Sohu Media, we enhanced the user experience through continuous refinements to our products and technology and by offering users a steady stream of reliable content real-time.

In Sohu Video, with consistent execution of our Twin Engine strategy, we expanded our portfolio of long and short-form video content and proactively, improved their distribution. Leveraging our advanced live broadcasting technology and Sohu product metrics, we hosted traditional flagship events and innovative content marketing campaigns, which generated abundant premium content and attracted more users. And this also put us in a position to explore more monetization opportunities and again advertising dollars. Online games remained steady, generating revenues in line with our prior guidance.