Sohu 2025 Financial Report: Game Revenue Grows by 10%, Losses Significantly Narrowed by Nearly 40%

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The Observer Network: Sohu announced its unaudited financial results for Q4 and full year 2025 on February 9, 2026. In Q4 2025, total revenue was $142 million, up 6% year-over-year. Online gaming revenue was $120 million (up 10%), and marketing services revenue was $17 million (down 10%). Full-year total revenue reached $584 million, with online gaming accounting for over 80%, totaling $506 million. Excluding the impact of tax provisions related to Changyou, the non-GAAP net loss for 2025 was $51 million, a nearly 40% improvement from a $83 million loss in 2024. The gross margin in Q4 was 75%, up 2 percentage points year-over-year. CEO Zhang Chaoyang stated that marketing services revenue exceeded expectations, online gaming revenue was in line with forecasts, and emphasized product optimization and long-term operations to enhance monetization opportunities. Additionally, as of February 5, 2026, Sohu had repurchased 81 million ADS shares, totaling approximately $106 million, completing most of the previous $150 million buyback plan.

Recent Stock Performance

Over the past 7 days (February 6–12, 2026), Sohu (NASDAQ: SOHU) stock price fluctuated within a range of 13.06%. The highest price was $17.21 on February 10, and the lowest was $15.13 on February 9. As of the close on February 12, the stock was at $16.19, up 1.63% from the opening price of $16.14 on February 6, though it fell 1.28% on the last trading day. Trading volume during this period was approximately $4.13 million, with a significant spike on February 10 to 103,300 shares. Meanwhile, the Nasdaq Composite index rose 2.15%, while Sohu’s digital entertainment sector declined 1.46%.

Recent Events

Sohu’s 2025 financial report release has been a key recent event. The company disclosed its Q4 and full-year results on February 9, highlighting steady growth in online gaming and narrowing losses. The stock buyback progress has also attracted attention; as of February 5, most of the buyback plan has been executed, which may support market sentiment.

This information is based on publicly available data and does not constitute investment advice.

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