Key Developments For Sohu.com Inc.
Sohu.com Inc. (SOHU.O) (Nasdaq)
SOHU.com Issues Q4 2009 Outlook; Revenue Outlook Below Analysts' Estimates
SOHU.com announced that for the fourth quarter of 2009, it expects total revenues to be between USD134.5 million and USD138.5 million. The Company estimates non-GAAP net income, before deducting the share of non-GAAP net income pertaining to the Non-Controlling Interest in Changyou, to be between USD49.5 million to USD51.5 million. After deducting the share of non-GAAP net income pertaining to the Non-Controlling Interest in Changyou, the Company estimates non-GAAP net income to be between USD35.0 million to USD37.0 million and non-GAAP fully diluted earnings per share (EPS) to be between USD0.90 and USD0.95. Considering the Company's share in Changyou, the estimated impact of this expense is expected to reduce the Company's fully diluted EPS under US GAAP by USD0.06 to USD0.08. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of USD141.7 million for the fourth quarter of 2009.
SOHU.com Issues Q3 2009 Guidance; Revenue And EPS Above Analysts' Estimates; Net Profit In Line With Analysts' Estimates
SOHU.com announced that for the third quarter of 2009, it expects revenues to be between USD133.5 million and USD137.5 million and expects non-GAAP net income, before deducting the share of non-GAAP net income pertaining to the Non-Controlling Interest in Changyou, to be between USD50.0 million to USD52.0 million. After deducting the share of non-GAAP net income pertaining to the Non-Controlling Interest in Changyou, the Company expects non-GAAP net income for the third quarter of 2009 to be between USD36.0 million to USD38.0 million and non-GAAP fully diluted earnings per share (EPS) for the third quarter of 2009 to be between USD0.92 and USD0.97. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of USD132.5 million and net profit of USD36.9 and EPS of USD0.90 for the third quarter of 2009.
SOHU.com Issues Q2 2009 Outlook; Profit Outlook Above Analysts' Estimates
SOHU.com announced that for the second quarter of 2009, it expects total revenues to be between USD121 million and USD125 million. The Company estimates non-GAAP net income, before deducting the share of net income pertaining to the Non-Controlling Interest in Changyou, to be between USD44 million to USD46 million. After deducting the share of net income pertaining to the Non-Controlling Interest in Changyou, the Company estimates non-GAAP net income to be between USD31 million to USD33 million and non-GAAP fully diluted earnings per share (EPS) to be between $0.80 and $0.85. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of USD122 million and profit of USD43 million for the second quarter of 2009.
Changyou.com Limited(ADR) Announces Pricing Of IPO On NASDAQ Global Select Market
Changyou.com Limited(ADR) announced that its initial public offering (IPO) of 7,500,000 American Depositary Shares (ADSs), each representing two Class A ordinary shares of the Company, was priced at $16.00 per ADS, at the top end of the original pricing range of $14.00 to $16.00. The ADSs will begin trading on the NASDAQ Global Select Market on April 2, 2009 under the symbol CYOU. Of the 7,500,000 ADSs being offered, 3,750,000 ADSs are offered by Changyou, and 3,750,000 ADSs are offered by Sohu.com (Game) Limited, an indirect wholly owned subsidiary of Sohu.com Inc. The underwriters have been granted a 30-day option to purchase up to 1,125,000 ADSs from the selling shareholder. Credit Suisse Securities (USA) LLC and Merrill Lynch & Co. acted as joint book runners.
SOHU.com Announces Filing of Registration Statement For Changyou.com limited IPO
SOHU.com announced that its subsidiary Changyou.com Limited has filed a registration statement on Form F-1 with the U. S. Securities and Exchange Commission (or the SEC) for an initial public offering (or IPO) of American Depositary Shares (or ADSs). Each ADS represents two Class A ordinary shares of Changyou and the estimated price for each ADS offered ranges from $14.00 to $16.00. The registration statement has not yet become effective. The ADSs may not be sold, nor may any offers to buy be accepted, prior to the time the registration statement becomes effective. A total of 7,500,000 ADSs of Changyou will be offered for sale. Of this total, 3,750,000 ADSs will represent newly-issued Class A ordinary shares being offered for sale by Changyou and 3,750,000 ADSs will represent Class A ordinary shares being offered for sale by Sohu.com (Game) Limited (Sohu Game), an indirect wholly owned subsidiary of Sohu. Proceeds to each of Changyou and Sohu Game from ADSs sold in the offering are expected to be approximately $52.3 million, and the total proceeds are expected to be approximately $104.6 million, assuming an initial public offering price per ADS of $15.00, which is the midpoint of the estimated public offering price range, and after deducting underwriting commissions but without deducting any offering expenses payable by Changyou or Sohu Game.
