Reported by: Eric crwenewswire Mideast correspondent

Sohu.com Inc reported a decline of 0.2 percent for its second quarter net profit while its revenue reached a record high because of its high brand ads and online games. Sohu Inc’s revenue from advertisements gained 26 percent, for the first time in its history the company, in the first quarter of 2010, exceeded its concurrent users by 1 million.

Sohu’s reported a total revenue increase of 17 percent to $77.7 million which was forecaste by analysts.

Sohu’s net profit for the second quarter was $33.5 million resulting in earning per share of $0.82 compared with net income of $33.5 million and EPS of $0.79 last year. The company’s reported profit and EPS exceeded analysts’ expectations.

Sohu.com Inc is one of the major names in China providing online news, communications and entertainment. The company has the most diversified portfolio of licensed and in house produced quality video content. Sohu has also developed many applications for devices such as Ipad.

Sohu is very optimistic about the second half of 2010 and has forecast earnings per share of $1 to $1.05 with revenues for the third quarter ranging between $153 million to $158 million. On the other hand analysts polled by Reuters expect the EPS Of $0.93 with revenue of approximately $155 million.

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Tags: China online gaming industry, china online newspaper, Sohu 2nd quarter earnings, Sohu.com Inc

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