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Why Shares of Sohu.com Tanked Today

TheMotleyFool

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Shares of Sohu.com (NASDAQ: SOHU) tumbled on Monday after the Chinese internet company reported its second-quarter results. Sohu missed analyst estimates across the board and provided revenue guidance that was well below expectations, sending the stock down 23.9% by 12:30 p.m. EDT.

Sohu reported second-quarter revenue of $474.8 million, down 2.3% year over year and about $5.6 million below the average analyst estimate. Brand advertising revenue was down 29% year over year to $44 million, search and search-related advertising revenue was up 2% year over year to $276 million, and online game revenue was up 8% year over year $102 million.

Image source: Getty Images.

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