Sohu Projects Q4 2025 With $15M–$16M Marketing Services Rebound, $113M–$123M Online Game Decline, And $25M–$35M Net Loss

Business Outlook

For the fourth quarter of 2025, Sohu estimates:

• Marketing services revenues to be between US$15 million and US$16 million; this implies an annual decrease of 15% to 20%, and a sequential increase of 10% to 18%.
• Online game revenues to be between US$113 million and US$123 million; this implies an annual increase of 3% to 12%, and a sequential decrease of 24% to 30%. 
• Both non-GAAP and GAAP net loss attributable to Sohu.com Limited to be between US$25 million and US$35 million.