'China's Yahoo' Posts Record Profit for 2009
Sohu posted the record profit of $515.2 million for 2009, a 20% gain from 2008. Sohu has been described as "China's Yahoo." In the final quarter of 2009 alone, its revenue increased by twelve percent. The company's success demonstrates the growing power that online marketing services have in China, spurred in part by the country's growing middle-class. Sohu's revenue from brand advertising alone was $177.1 million, which is another record – up five percent from last year. Sohu also reported a record $70.7 million in revenues from online games. Strong revenue gains were also reported from their guidance and translation services.
Sohu is equally optimistic about its earnings for 2010. A spokesperson from Sohu stated: "We expect advertisers to increase their marketing activities in 2010 with events such as the World Cup, Asian Games and World Expo, providing new opportunities for us to showcase our well-established media platform. We are well-positioned to capitalise on the online advertising recovery as brands continue to turn to us for new advertising solutions."