Shares of Sohu.com Inc.(NASDAQ:SOHU) rose by 8 cents or 0.2% to $40.63 after the company reported a third quarter financial result which beats Street estimates by 40%.
The company reported a rise of 12% sequentially and 23% year over year revenue of $285 million overtaking the street consensus of $275.2 million. Non-GAAP profit reported was 77 cents per share which again beats Street estimates of 55 cents per share.
Sohu expects fourth quarter revenue to range between $288 million to $293 million with non-GAAP profits of 60-65 cents a share; consensus has been $289.6 million and 62 cents.
Result “surpass our expectations” says CEO Charles Zhang. He stated that while brand advertising met the high end of guidance online gaming revenue was “well ahead of our expectations.”
Expecting a weak fourth quarter brand advertising from the auto sector the company expects other sector to offset this impact.
Shares of AOL, Inc.(NYSE:AOL) rose by $7.89 or 22.03% to 43.70 in Tuesday’s session after the company reported a third quarter net profit which beats Wall Street expectation 22% and its advertising revenue grew for the sixth straight quarter.
The Internet Company earned $20.8 million or 22 cents per share for the last quarter, in comparison to a loss of $2.6 million, or 2 cents per share, in the same period for the last year.
Revenue stood at $531.7 million. Advertising revenue grew 7% to $340 million.
Factset analyst expected earnings of 18 cents per share on revenue of $519.7 million.
CEO Tim Armstrong termed this to be the best quarterly revenue growth in seven years, with results topping the company expectations.
The stock made a new high as well of $43.93.