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SCMP Reporter

Nasdaq-listed Chinese-language Internet portal Sohu.com has posted its second consecutive quarterly profit, thanks to strong revenue growth from its mobile-data services.

Sohu recorded a net profit of US$1.93 million, or six US cents per share, for the fourth quarter to December 30.

The portal operator made a net loss of US$2.49 million in the previous corresponding period.

Sohu reported its first profit, of US$112,000, for the September quarter.

Revenue rose 157.2 per cent year on year in the latest quarter and 40.7 per cent quarter on quarter to US$10.56 million, beating Sohu's forecast of US$8.2 million.

Sohu thanked a surprising surge in non-advertising sales - mainly mobile-data subscription services such as short messaging services - for its better than expected earnings.

It said non-advertising revenue had soared 291.2 per cent year on year and 63.2 per cent quarter on quarter to US$6.26 million, beating the company's forecast by US$1.8 million. Non-advertising revenue contributed 59.2 per cent of total revenue in the fourth quarter, up from 51 per cent in the third.

Sohu expects the contribution from non-advertising revenue to increase to between 65 per cent and 70 per cent this year.

On a full-year basis, the company trimmed its net loss by 97.6 per cent to US$1.03 million, against a US$13.3 million after making adjustments for the effects of amortisation of the intangibles and a one-off write-down of intangible assets.

Full-year revenue rose 2.2 times to US$28.72 million.

Sohu chairman and chief executive Charles Zhang said: 'Our registered users have become paying consumers for mobile services, which are an important part of their daily lifestyle.

'Sohu's millions of registered users and China's 200 million-plus mobile-phone users form a strong basis for the long-term growth prospects of our e-subscriptions.'

The portal operator forecasts a further 18.3 per cent quarter-on-quarter revenue growth for the three months to March 31, to US$12.5 million.

Sohu shares surged 10.4 per cent on Friday ahead of its earnings results announcement.

STRONG MESSAGE

The Internet portal announces its second consecutive quarterly profit of US$1.93 million

Sohu made its first profit, of US$112,000, in the September quarter

The company says its quarterly non-advertising revenue of US$6.26 million beat company forecasts by US$1.8 million



Mobile-data services fuel Sohu's profit rise