Sohu Forecasts Q1 2026 Marketing Services Revenue Of $10M–$11M, Online Games At $113M–$123M; Net Loss Seen At $10M–$20M

Business Outlook

For the first quarter of 2026, Sohu estimates:

• Marketing services revenues to be between US$10 million and US$11 million; this implies an annual decrease of 20% to 27%, and a sequential decrease of 35% to 41%.
• Online game revenues to be between US$113 million and US$123 million; this implies an annual decrease of 4% to an annual increase of 5%, and a sequential decrease of 6% to a sequential increase of 2%. 
• Both non-GAAP and GAAP net loss attributable to Sohu.com Limited to be between US$10 million and US$20 million.

For the first quarter 2026 guidance, the Company has adopted a presumed exchange rate of RMB7.02=US$1.00, as compared with the actual exchange rate of approximately RMB7.18=US$1.00 for the first quarter of 2025, and RMB7.08=US$1.00 for the fourth quarter of 2025.