China Internet Portal Sohu Report First Profit in Second Quarter

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Last updated at: (Beijing Time) Thursday, July 18, 2002

China Internet Portal Sohu Report First Profit in Second Quarter

China's major Internet portal Sohu.com reported its first ever profit in the second quarter of the year, the Beijing Morning Post said Thursday.

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China's major Internet portal Sohu.com reported its first ever profit in the second quarter of the year, the Beijing Morning Post said Thursday.

The report quoted the Nasdaq-listed company as saying Wednesdaythat it posted a revenue of 6.13 million US dollars in the second quarter, with a gross profit of 49 percent.

The company's revenue rose 36 percent in the second quarter over the previous quarter, or 113 percent year-on-year.

In fact, Sohu said this is the eighth consecutive quarter in which it has posted double-digit revenue growth.

Advertising contributed 55 percent of Sohu's revenue in the second quarter, thanks to the advertising boom as a result of the World Cup.

Other major revenue sources include short message and personal value-added services.

Sohu's chief executive officer Zhang Chaoyang said he is very satisfied with the first quarterly profit, which has come six months earlier than expected.

He said he is looking forward to the company's first profit-making year in 2003.

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