On March 4th, Sohu Corporation released its financial reports for the fourth quarter and fiscal year of 2023. According to the financial report, Sohu's total revenue in the fourth quarter of last year was 141 million US dollars, a year-on-year decrease of 12%. Among them, brand advertising revenue was $20 million, a year-on-year decrease of 30%. Online game revenue was 115 million US dollars, a year-on-year decrease of 5%. A net loss of $11 million was incurred under non US GAAP accounting standards, and a net loss of $2 million was incurred in the fourth quarter of 2002.
From a full year perspective, Sohu's total revenue in 2023 was 601 million US dollars, a year-on-year decrease of 18%. Non US GAAP net loss of $51 million and net profit of $2 million for the same period in 2022.
At the same time, Sohu's board of directors approved an additional amount for the previously announced American Depositary Stock Repurchase Program on March 2, 2024, increasing the total amount from a maximum of $80 million to a maximum of $150 million. It was announced earlier that the stock repurchase plan will begin on November 11, 2023, for a period of two years. As of February 29, 2024, Sohu has repurchased 1276457 Sohu American Depositary Shares for a total amount of approximately $12 million.