Chinese portal Sohu reports decline of 9% in profit even as revenue rises


AP

BEIJING — Sohu.com Inc., which operates a popular Chinese Internet portal, says its quarterly profit fell 9 percent as rising expenses offset strong revenue growth for online games.

Sohu said Monday it earned US$23 million, or 60 U.S. cents per share, in the three months ending Dec. 31. For the full year, profit fell 49 percent from 2011 to US$78 million, or US$2.03 per share.

Total revenue for the quarter rose 22 percent from a year earlier to a record US$229 million. That was driven by a 29-percent rise in online game revenue to US$158.9 million.