Sohu (SOHU.US) announced that its revenue in 2023 was $601 million and the amount of stock repurchase has been increased to a maximum of $1.50 billion.

On March 4, 2024, Sohu Company (SOHU.US) released its financial report for the fourth quarter of 2023 and the full year of 2023. The financial report showed that Sohu's total revenue for the fourth quarter was $141 million, and the total revenue for the year was $601 million. In addition, the board of directors of Sohu Company announced an increase in the stock buyback plan, from a maximum total amount of $80 million to a maximum total amount of $150 million. Sohu founder, chairman of the board, and CEO Charles Zhang said, "In the fourth quarter and full year of 2023, while maintaining a cautious approach to advertising budgets, we continued to improve operating efficiency and strictly control costs. As a result, in the fourth quarter of 2023, our net profit exceeded previous expectations." According to the financial report, in the fourth quarter of 2023, Sohu's total revenue was $141 million. Of this, brand advertising revenue was $20 million, and online gaming revenue was $115 million. For the full year of 2023, Sohu's total revenue was $601 million, with brand advertising revenue of $89 million and online gaming revenue of $480 million. In terms of overall business, Zhang mentioned, "For Sohu Media, we continuously optimize products, enhance technology, and expand high-quality content to further improve user experience. In terms of Sohu Video, we continue to focus on the 'dual-engine' strategy, producing engaging long and short video content. While vigorously developing short video content social networking, we also focus on scientific live streaming and other live events. These activities further promote social interaction and user stickiness on the Sohu platform. At the same time, we continuously integrate advantageous resources and leverage our unique IP to host various content marketing activities to actively explore diverse business opportunities. Finally, the online gaming business remains stable, and revenue meets our expectations." Furthermore, the board of directors of Sohu Company approved an increase in the total amount of the previously announced stock buyback plan for American depositary shares from a maximum of $80 million to a maximum of $150 million on March 2, 2024. As previously announced, the stock buyback plan began on November 11, 2023, and will last for 2 years. As of February 29, 2024, Sohu has repurchased 1,276,457 shares of Sohu American depositary shares, totaling approximately $12 million.