This story was written by Joseph Weisenthal.
Baidu (NSDQ: BIDU) last week, and now Sohu (NSDQ: SOHU), it's a good time to be a Chinese internet firm: the provider of search, games and mobile services reported Q1 revs of $84.8 million, a 156 percent increase from the year-ago quarter. Just on a sequential basis, revenue was up 30 percent. Net income of $21.6 million of $21.6 million ($.55 per share) more than tripled from a year ago. Breaking it down, brand advertising was up 41 percent over a year ago, while the nascent online games business brought in $41 million, up from basically nothing a year ago. Wireless revenue was up 54 percent. Looking to next quarter, the company expects revenue of $93-$96 million, representing sequential growth of around 12 percenta bit of a slowdown. Nonetheless, the market loves the news, as the stock is up over 10 percent, past a new 52-week high.
By Joseph Weisenthal