Mon, Nov. 28, 3:13 PM
Mon, Oct. 24, 5:20 AM
Sun, Oct. 23, 5:30 PM
Tue, Sep. 13, 3:00 PM
Fri, Aug. 26, 3:00 PM
Mon, Aug. 1, 5:39 AM
Sun, Jul. 31, 5:30 PM
Mon, Apr. 25, 5:15 AM
- Changyou.com (NASDAQ:CYOU): Q1 EPS of $0.58 in-line.
- Revenue of $130M (-37.7% Y/Y) beats by $0.45M.
Sun, Apr. 24, 5:30 PM
Tue, Feb. 16, 11:10 AM
- Many beaten-up Chinese tech names are up strongly on a morning the Nasdaq is up 1%. The gains comes after the Shanghai and Shenzhen exchanges respectively rose 3.3% and 4.1% overnight; strong new loan data and PBOC cash-removal efforts helped.
- Alibaba (BABA +6.7%) is one today's standouts, and that naturally means Yahoo (YHOO +5.8%), which (for now) is still pursuing a reverse spinoff of its core business to better monetize its 384M-share Alibaba stake, is also posting big gains. Fellow Chinese e-commerce firms JD.com (JD +7.6%), Vipshop (VIPS +7.9%), LightInTheBox (LITB +6.7%), and Dangdang (DANG +8.3%) are also doing well.
- Other big gainers include Weibo (WB +9.5%), Momo (MOMO +16.8%), Leju (LEJU +9.4%), NetEase (NTES +6.7%), Changyou (CYOU +6.5%), Bitauto (BITA +8.9%), 58.com (WUBA +6.8%), Cheetah Mobile (CMCM +5.8%), NQ Mobile (NQ +5.4%), 500.com (WBAI +5.6%), Baozun (BZUN +6.7%), and Xunlei (XNET +6.8%).
- ETFs: CQQQ, KWEB, QQQC, EMQQ
Mon, Feb. 1, 3:32 PM
- Though Sohu (SOHU -3.8%) beat Q4 estimates, the company is guiding for Q1 revenue of $390M-$420M and EPS of -$0.40 to -$0.65, below a consensus of $450.6M and -$0.32.
- Likewise, gaming subsidiary Changyou's (CYOU -4.1%) Q4 beat is accompanied by guidance for Q1 revenue of $120M-$130M and EPS of $0.56 to $0.65, below a consensus of $157.3M and $0.73.
Sohu/Changyou's Q4: Sohu's brand ad revenue fell 5% Y/Y to $141M. Search revenue (Sogou) +37% to $151M. Online game revenue (Changyou) -31% to $127M. The gaming decline is attributed to "the natural decline in revenues of older games, such as TLBB 3D and TLBB, and a decrease in Web game revenue as a result of the sale of the 7Road business in [Q3]."
Sohu's gross margin fell to 57% from 59% a year ago; Changyou's GM rose to 74% from 68%. Sohu's non-GAAP operating expenses fell 6% Y/Y; Changyou's opex (reported in GAAP) fell 47% due to the absence of charges recorded a year ago.
- Sohu: Q4 results, earnings release
- Changyou: Q4 results, earnings release
Mon, Feb. 1, 4:27 AM
- Changyou.com (NASDAQ:CYOU): Q4 EPS of $0.85 beats by $0.19.
- Revenue of $161.91M (-26.4% Y/Y) beats by $7.12M.
Sun, Jan. 31, 5:30 PM
Mon, Jan. 4, 12:58 PM
- With concerns about macro issues both inside and outside China's borders running high, the Shanghai and Shenzhen exchanges respectively fell 6.9% and 8.2% overnight before getting halted. Today in the U.S., the Nasdaq is down 2.6% and the S&P 2.1%.
- Naturally, U.S.-traded Chinese tech stocks are having a rough day. Big decliners include e-commerce firms Alibaba (BABA -6.2%), JD.com (JD -7.9%), Vipshop (VIPS -7.8%), and Baozun (BZUN -6.8%). Others include auto site owners Bitauto (BITA -7.2%) and Autohome (ATHM -8.5%), Sohu (SOHU -6.9%) and gaming subsidiary Changyou (CYOU -8.8%), mobile app developer Cheetah Mobile (CMCM -7%), online classifieds leader 58.com (WUBA -5.9%), and CDN owner ChinaCache (CCIH -6.4%).
- SouFun is down sharply after naming a new CFO. Qunar is seeing big losses after naming a new CEO, COO, and CFO.
- In other news, Alipay parent Ant Financial is looking to raise more funds ahead of a long-expected IPO. Bloomberg reports Alipay is seeking at least $1.5B; the Chinese online payments leader was valued at $45B in a June round. Alibaba is entitled to 37.5% of Alipay's pre-IPO profits, and a 37.5% stake at IPO time.
- ETFs: CQQQ, KWEB, QQQC, EMQQ
Oct. 26, 2015, 12:27 PM
- Beaten-down SOHU and Changyou (NASDAQ:CYOU) have surged after delivering Q3 beats and issuing soft Q4 guidance.
- Sohu expects Q4 revenue of $435M-$465M and EPS of -$0.40 to -$0.65 vs. a consensus of $515.3M and -$0.42. Majority-owned Changyou expects Q4 revenue of $145M-$155M and EPS of $0.56-$0.65 vs. a consensus of $182.5M and $0.76.
- Q3 business performance: Sohu's online gaming revenue (Changyou) was down 12% Q/Q and flat Y/Y at $153M. The Sogou search platform saw revenue rise 9% Q/Q and 50% Y/Y to $148M, with both paid clicks and ad prices (cost per click) rising. Brand ad revenue was flat Q/Q and up 2% Y/Y to $152M, with Sohu Video growing 9% Y/Y to $57M. Other revenue more than doubled Y/Y to $70M. Sogou's mobile traffic exceeded PC traffic for the first time.
- Financials: Sohu's gross margin rose to 59% from 55% in Q2 and 58% in Q3 2014. Operating expenses (non-GAAP) fell 3% Y/Y to $267M. Sohu ended Q3 with $1.33B in cash, and $345M in bank loans.
- Sohu CEO Charles Zhang: "I am pleased with our quarterly results amid a sluggish economy and considerable RMB depreciation ... The soft macro economy had a major impact on traditional brand advertisers who shrank their marketing budgets. In addition, the depreciation of RMB against the U.S. dollar had an adverse effect to our reported numbers."
- Sohu: Q3 results, PR
- Changyou: Q3 results, PR
Oct. 26, 2015, 4:12 AM
- Changyou.com (NASDAQ:CYOU): Q3 EPS of $1.43 beats by $0.71.
- Revenue of $188.88M (+4.5% Y/Y) beats by $12.45M.