Alicis a Yap's questions to Sohu.com Ltd (SOHU) leadership • Q3 2024
Question
Alicis a Yap of CICC inquired about the advertising outlook for Q4 and 2025, the reasons for conservative Q4 gaming guidance after a Q3 beat, and the slow execution of the share buyback program.
Answer
Chairman and CEO Dr. Charles Zhang stated the advertising market remains soft, with Q3 strength coming from unique events rather than a broad economic recovery. Changyou CEO Dewen Chen explained the Q3 gaming beat was due to strong performance from TLBB PC content, while Q4 guidance is conservative as the focus shifts to user stability over revenue. Dr. Zhang attributed the slow buyback pace to daily trading volume limits, necessitating the program's extension to 2026.