Technology
SOHU.COM REPORTS FOURTH QUARTER AND FISCAL YEAR 2023 UNAUDITED FINANCIAL RESULTS
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7 months agoon
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BEIJING, March 4, 2024 /PRNewswire/ — Sohu.com Limited (NASDAQ: SOHU) (“Sohu” or the “Company”), a leading Chinese online media, video, and game business group, today reported unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023.
Fourth Quarter Highlights[1]
Total revenues were US$141 million, down 12% year-over-year and 3% quarter-over-quarter.Brand advertising revenues were US$20 million, down 30% year-over-year and 9% quarter-over-quarter.Online game revenues were US$115 million, down 5% year-over-year and 2% quarter-over-quarter.GAAP net loss attributable to Sohu.com Limited was US$13 million, compared with a net loss of US$7 million in the fourth quarter of 2022 and a net loss of US$14 million in the third quarter of 2023.Non-GAAP[2] net loss attributable to Sohu.com Limited was US$11 million, compared with a net loss of US$2 million in the fourth quarter of 2022 and a net loss of US$10 million in the third quarter of 2023.
Fiscal Year 2023 Highlights
Total revenues were US$601 million, down 18% compared with 2022. Brand advertising revenues were US$89 million, down 14% compared with 2022. Online game revenues were US$480 million, down 18% compared with 2022.GAAP net loss attributable to Sohu.com Limited was US$66 million, compared with a net loss of US$17 million in 2022.Non-GAAP net loss attributable to Sohu.com Limited was US$51 million, compared with net income of US$2 million in 2022.
Dr. Charles Zhang, Chairman and CEO of Sohu.com Limited, commented, “In the fourth quarter and full year of 2023, we continued to optimize operating efficiency with strict budget control, despite the external economic environment and cautious budgeting by advertisers. Thanks to these efforts, our bottom-line performance hit the high end of our guidance for the fourth quarter of 2023. At Sohu Media Portal, we further refined our products, upgraded technology and expanded premium content offerings, resulting in an enhanced user experience. At Sohu Video, we continued to execute our ‘Twin Engine’ strategy by developing engaging long and short-form content. In addition to the social distribution of short-form content, we also worked hard on science-based live broadcasting and other live broadcasting events, which further boosted user interactions and engagement on our platforms. We also proactively explored diversified monetization opportunities by integrating our advantageous resources and hosting various content marketing campaigns with our unique IPs. Lastly, our online game business remained stable, delivering revenues in line with our expectations.”
[1] The bankruptcy proceedings of Changyou’s wholly-owned subsidiary Shanghai Jingmao Culture Communication Co., Ltd. (“Shanghai Jingmao”), which operated Changyou’s cinema advertising business, were concluded by a Chinese mainland bankruptcy court in the third quarter of 2023. The Company recognized a US$35 million disposal gain within discontinued operations in the condensed consolidated statements of operations for the third quarter of 2023. Unless indicated otherwise, results presented in this press release are related to continuing operations only, and exclude the disposal gain mentioned above.
[2] Non-GAAP results exclude share-based compensation expense; changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments; the impact of income tax related to changes in the fair value of the Company’s investments; and interest expense recognized in connection with the one-time transition tax (the “Toll Charge”) imposed by the U.S. Tax Cuts and Jobs Act signed into law on December 22, 2017 (the “U.S. TCJA”). Explanation of the Company’s non-GAAP financial measures and related reconciliations to GAAP financial measures are included in the accompanying “Non-GAAP Disclosure” and “Reconciliations of Non-GAAP Results of Operation Measures to the Nearest Comparable GAAP Measures.”
Fourth Quarter Financial Results
Revenues
Total revenues were US$141 million, down 12% year-over-year and 3% quarter-over-quarter.
Brand advertising revenues were US$20 million, down 30% year-over-year and 9% quarter-over-quarter.
Online game revenues were US$115 million, down 5% year-over-year and 2% quarter-over-quarter.
Gross Margin
Both GAAP and non-GAAP gross margin were 76%, compared with 78% in the fourth quarter of 2022 and 76% in the third quarter of 2023.
Both GAAP and non-GAAP gross margin for the brand advertising business were 16%, compared with 51% in the fourth quarter of 2022 and 15% in the third quarter of 2023. The year-over-year margin decrease was mainly due to a waiver of unpaid long-term accounts payable of approximately US$10 million recognized in the fourth quarter of 2022.
Both GAAP and non-GAAP gross margin for online games were 87%, compared with 84% in the fourth quarter of 2022 and 87% in the third quarter of 2023.
Operating Expenses
GAAP operating expenses were US$133 million, up 2% year-over-year and 1% quarter-over-quarter. Non-GAAP operating expenses were US$134 million, up 3% year-over-year and 2% quarter-over-quarter.
Operating Loss
GAAP operating loss was US$25 million, compared with an operating loss of US$6 million in the fourth quarter of 2022 and an operating loss of US$21 million in the third quarter of 2023.
Non-GAAP operating loss was US$26 million, compared with an operating loss of US$5 million in the fourth quarter of 2022 and an operating loss of US$20 million in the third quarter of 2023.
Income Tax Expense
GAAP income tax expense was US$14 million, compared with income tax expense of US$7 million in the fourth quarter of 2022 and income tax expense of US$15 million in the third quarter of 2023. Non-GAAP income tax expense was US$10 million, compared with income tax expense of US$5 million in the fourth quarter of 2022 and income tax expense of US$12 million in the third quarter of 2023. The year-over-year income tax expense increase was mainly due to a one-time tax benefit recognized by Changyou in the fourth quarter of 2022 as result of certain of its subsidiaries having been entitled to preferential tax rates upon being granted Software Enterprise status for 2021.
Net Loss
GAAP net loss attributable to Sohu.com Limited was US$13 million, or a net loss of US$0.37 per fully-diluted American depositary share (“ADS,” each ADS representing one Sohu ordinary share), compared with a net loss of US$7 million in the fourth quarter of 2022 and a net loss of US$14 million in the third quarter of 2023.
Non-GAAP net loss attributable to Sohu.com Limited was US$11 million, or a net loss of US$0.32 per fully-diluted ADS, compared with a net loss of US$2 million in the fourth quarter of 2022 and a net loss of US$10 million in the third quarter of 2023.
Liquidity and Capital Resources
As of December 31, 2023, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.3 billion.
Fiscal Year 2023 Financial Results
Revenues
Total revenues were US$601 million, down 18% compared with 2022.
Brand advertising revenues were US$89 million, down 14% compared with 2022.
Online game revenues were US$480 million, down 18% compared with 2022.
Gross Margin
Both GAAP and non-GAAP gross margin was 76%, compared with 74% in 2022.
Both GAAP and non-GAAP gross margin for the brand advertising business was 20%, compared with 16% in 2022.
Both GAAP and non-GAAP gross margin for online games was 86%, compared with 84% in 2022.
Operating Expenses
For 2023, GAAP operating expenses totaled US$542 million, flat compared with 2022. Non-GAAP operating expenses were US$542 million, up 1% compared with 2022.
Operating Profit/(Loss)
GAAP operating loss was US$87 million, compared with an operating loss of US$1 million in 2022.
Non-GAAP operating loss was US$87 million, compared with an operating profit of US$4 million in 2022.
Income Tax Expense
GAAP income tax expense was US$60 million, compared with income tax expense of US$58 million in 2022. Non-GAAP income tax expense was US$48 million, compared with income tax expense of US$53 million in 2022.
Net Income/(Loss)
GAAP net loss attributable to Sohu.com Limited was US$66 million, or a net loss of US$1.93 per fully-diluted ADS, compared with a net loss of US$17 million in 2022.
Non-GAAP net loss attributable to Sohu.com Limited was US$51 million, or a net loss of US$1.51 per fully-diluted ADS, compared with net income of US$2 million in 2022.
Supplementary Information for Changyou Results[3]
Fourth Quarter 2023 Operating Results
For PC games, total average monthly active user accounts[4] (MAU) were 2.3 million, an increase of 2% year-over-year and 4% quarter-over-quarter. Total quarterly aggregate active paying accounts[5] (APA) were 0.9 million, a decrease of 4% year-over-year and 9% quarter-over-quarter. The quarter-over-quarter decrease in APA was mainly a result of fewer in-game promotional activities having been launched for TLBB PC during the quarter.
For mobile games, total average MAU were 1.7 million, a decrease of 4% year-over-year and 26% quarter-over-quarter. Total quarterly APA were 0.3 million, a decrease of 14% year-over-year and 25% quarter-over-quarter. The year-over-year decreases in MAU and APA were mainly due to the natural decline of our older games, partially offset by the launch of New TLBB Mobile during the third quarter of 2023. The quarter-over-quarter decreases in MAU and APA were mainly due to the natural decline of New TLBB Mobile.
Fourth Quarter 2023 Unaudited Financial Results
Total revenues were US$116 million, a decrease of 6% year-over-year and 2% quarter-over-quarter. Online game revenues were US$115 million, a decrease of 5% year-over-year and 2% quarter-over-quarter. Online advertising revenues were US$1 million, a decrease of 18% year-over-year and an increase of 1% quarter-over-quarter.
GAAP and non-GAAP gross profit were both US$100 million, a decrease of 3% year-over-year and 2% quarter-over-quarter.
GAAP operating expenses were US$53 million, an increase of 5% year-over-year and 2% quarter-over-quarter. The year-over-year increase was mainly due to an increase in salary and benefits expenses.
Non-GAAP operating expenses were US$54 million, an increase of 8% year-over-year and 5% quarter-over-quarter.
GAAP operating profit was US$48 million, compared with an operating profit of US$53 million for the fourth quarter of 2022 and US$51 million for the third quarter of 2023.
Non-GAAP operating profit was US$47 million, compared with a non-GAAP operating profit of US$54 million for the fourth quarter of 2022 and US$52 million for the third quarter of 2023.
Fiscal Year 2023 Unaudited Financial Results
Total revenues were US$485 million, a decrease of 18% year-over-year. Online game revenues were US$480 million, a decrease of 18% year-over-year. Online advertising revenues were US$5 million, a decrease of 27% year-over-year.
GAAP and non-GAAP gross profit were both US$418 million, a decrease of 16% year-over-year.
GAAP operating expenses were US$216 million, a decrease of 3% year-over-year.
Non-GAAP operating expenses were US$215 million, a decrease of 1% year-over-year.
GAAP operating profit was US$202 million, compared with an operating profit of US$277 million for 2022.
Non-GAAP operating profit was US$203 million, compared with a non-GAAP operating profit of US$282 million for 2022.
[3] “Changyou Results” consist of the results of Changyou’s online game business and its 17173.com Website.
[4] Monthly active user accounts refers to the number of registered accounts that are logged in to these games at least once during the month.
[5] Quarterly aggregate active paying accounts refers to the number of accounts from which game points are utilized at least once during the quarter.
Recent Development
Sohu today announced that on March 2, 2024, its board of directors authorized an increase in Sohu’s previously-announced share repurchase from up to US$80 million to up to US$150 million of the outstanding ADSs of Sohu. As previously announced, the ADSs may be purchased from time to time over a two-year period commencing November 11, 2023 at Sohu’s management’s discretion at prevailing market prices in accordance with Rule 10b‑18 and Rule 10b5-1 under the Securities Exchange Act of 1934. Sohu’s management will continue to determine the timing and amount of any purchases of ADSs based on their evaluation of market conditions, the trading price of ADSs and other factors. The share repurchase program may be suspended or discontinued at any time. Sohu plans to continue to fund repurchases from its existing cash balance. As of February 29, 2024, Sohu had repurchased 1,276,457 ADSs under the share repurchase program for an aggregate cost of approximately US$12 million.
Business Outlook
For the first quarter of 2024, Sohu estimates:
Brand advertising revenues to be between US$15 million and US$17 million; this implies an annual decrease of 25% to 33%, and a sequential decrease of 16% to 26%.Online game revenues to be between US$110 million and US$120 million; this implies an annual decrease of 7% to 15%, and a sequential decrease of 4% to a sequential increase of 5%. Non-GAAP net loss attributable to Sohu.com Limited to be between US$23 million and US$33 million; and GAAP net loss attributable to Sohu.com Limited to be between US$26 million and US$36 million.
For the first quarter 2024 guidance, the Company has adopted a presumed exchange rate of RMB7.10=US$1.00, as compared with the actual exchange rate of approximately RMB6.84=US$1.00 for the first quarter of 2023, and RMB7.15=US$1.00 for the fourth quarter of 2023.
This forecast reflects Sohu’s management’s current and preliminary view, which is subject to substantial uncertainty.
Non-GAAP Disclosure
To supplement the unaudited consolidated financial statements presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), Sohu’s management uses non-GAAP measures of gross profit, operating profit, net income, net income attributable to Sohu.com Limited and diluted net income attributable to Sohu.com Limited per ADS, which are adjusted from results based on GAAP to exclude the impact of share-based compensation expense; changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments; the impact of income tax related to changes in the fair value of the Company’s investments; and interest expense recognized in connection with the Toll Charge imposed by the U.S. TCJA. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.
Sohu’s management believes excluding share-based compensation expense; changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments; the impact of income tax related to changes in the fair value of the Company’s investments; and interest expense recognized in connection with the Toll Charge from its non-GAAP financial measure is useful for itself and investors. Further, the impact of share-based compensation expense; changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments; the impact of income tax related to changes in the fair value of the Company’s investments; and interest expense recognized in connection with the Toll Charge cannot be anticipated by management and business line leaders and these expenses were not built into the annual budgets and quarterly forecasts that have been the basis for information Sohu provides to analysts and investors as guidance for future operating performance. As share-based compensation expense and changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments, and the impact of income tax related to changes in the fair value of the Company’s investments do not involve subsequent cash outflow or are reflected in the cash flows at the equity transaction level, Sohu does not factor in their impact when evaluating and approving expenditures or when determining the allocation of its resources to its business segments. As a result, in general, the monthly financial results for internal reporting and any performance measures for commissions and bonuses are based on non-GAAP financial measures that exclude share-based compensation expense, changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments, the impact of income tax related to changes in the fair value of the Company’s investments, and also excluded the interest expense recognized in connection with the Toll Charge.
The non-GAAP financial measures are provided to enhance investors’ overall understanding of Sohu’s current financial performance and prospects for the future. A limitation of using non-GAAP gross profit, operating profit, net income, net income attributable to Sohu.com Limited, and diluted net income attributable to Sohu.com Limited per ADS excluding share-based compensation expense and interest expense recognized in connection with the Toll Charge is that share-based compensation expense and interest expense recognized in connection with the Toll Charge have been and can be expected to continue to be significant recurring expenses in Sohu’s business. It is also possible that changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments, and the impact of income tax related to changes in the fair value of the Company’s investments will recur in the future. In order to mitigate these limitations Sohu has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between the GAAP financial measures that are most directly comparable to the non-GAAP financial measures that have been presented.
Notes to Financial Information
Financial information in this press release other than the information indicated as being non-GAAP is derived from Sohu’s unaudited financial statements prepared in accordance with GAAP.
Safe Harbor Statement
This announcement contains forward-looking statements. It is currently expected that the Business Outlook will not be updated until release of Sohu’s next quarterly earnings announcement; however, Sohu reserves right to update its Business Outlook at any time for any reason. Statements that are not historical facts, including statements about Sohu’s beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, instability in global financial and credit markets and its potential impact on the Chinese economy; exchange rate fluctuations, including their potential impact on the Chinese economy and on Sohu’s reported U.S. dollar results; fluctuations in Sohu’s quarterly operating results; the possibilities that Sohu will be unable to recoup its investment in video content and will be unable to develop a series of successful games for mobile platforms or successfully monetize mobile games it develops or acquires; Sohu’s reliance on online advertising sales and online games for its revenues; and the impact of the U.S. TCJA. Further information regarding these and other risks is included in Sohu’s annual report on Form 20-F for the year ended December 31, 2022, and other filings with and information furnished to the U.S. Securities and Exchange Commission.
Conference Call and Webcast
Sohu’s management team will host a conference call at 7:30 a.m. U.S. Eastern Time, March 4, 2024 (8:30 p.m. Beijing/Hong Kong time, March 4, 2024) following the quarterly results announcement. Participants can register for the conference call by clicking here, which will lead them to the conference registration website. Upon registration, participants will receive details for the conference call, including the dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.
The live Webcast and archive of the conference call will be available on the Investor Relations section of Sohu’s website at https://investors.sohu.com/
About Sohu
Sohu.com Limited (NASDAQ: SOHU) was established by Dr. Charles Zhang, one of China’s internet pioneers, in the 1990s. As a mainstream media platform, Sohu is indispensable to the daily life of millions of Chinese, providing a network of web properties and community based products which continually offer a broad array of choices regarding information, entertainment and communication to the vast number of Sohu users. Sohu has built one of the most comprehensive matrices of Chinese language web properties, consisting of the leading online media destinations Sohu News App, mobile news portal m.sohu.com, PC portal www.sohu.com; online video website tv.sohu.com; and the online games platform www.changyou.com/en/.
Sohu provides online brand advertising services as well as multiple news, information and content services on its matrix of websites and also on its mobile platforms. Sohu’s online game business, conducted by its subsidiary Changyou, develops and operates a diverse portfolio of PC and mobile games, such as the well-known Tian Long Ba Bu (“TLBB”) PC and Legacy TLBB Mobile.
For investor and media inquiries, please contact:
In China:
In the United States:
SOHU.COM LIMITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
Three Months Ended
Twelve Months Ended
Dec. 31, 2023
Sep. 30, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Revenues:
Brand advertising
$
20,195
$
22,087
$
28,778
$
88,689
$
103,233
Online games
114,759
117,049
121,381
479,697
585,424
Others
6,405
6,294
10,241
32,286
45,215
Total revenues
141,359
145,430
160,400
600,672
733,872
Cost of revenues:
Brand advertising (includes share-based compensation
expense of $0, $15, $8, $7, and $48, respectively)
16,966
18,745
14,020
71,103
86,642
Online games (includes share-based compensation expense
of $-44, $18, $18, $10, and $143, respectively)
15,123
15,039
18,888
65,029
91,001
Others
1,733
687
2,888
9,625
13,930
Total cost of revenues
33,822
34,471
35,796
145,757
191,573
Gross profit
107,537
110,959
124,604
454,915
542,299
Operating expenses:
Product development (includes share-based compensation
expense of $-572, $280, $217, $156, and $2,026, respectively)
69,553
67,749
67,147
279,842
260,772
Sales and marketing (includes share-based compensation
expense of $4, $39, $-21, $26, and $128, respectively)
50,813
53,040
47,067
213,449
225,480
General and administrative (includes share-based
compensation expense of $-393, $358, $332, $509, and $2,594,
respectively)
12,450
10,801
15,970
48,934
56,920
Total operating expenses
132,816
131,590
130,184
542,225
543,172
Operating loss
(25,279)
(20,631)
(5,580)
(87,310)
(873)
Other income, net
15,949
10,869
779
35,746
17,643
Interest income
11,578
11,519
6,190
45,222
17,311
Exchange difference
(823)
(478)
(1,071)
692
6,524
Income/(loss) before income tax expense
1,425
1,279
318
(5,650)
40,605
Income tax expense
14,044
15,340
7,413
60,420
57,946
Net loss from continuing operations
(12,619)
(14,061)
(7,095)
(66,070)
(17,341)
Net income from discontinued operations, net of tax [6]
–
35,426
–
35,426
–
Net income/(loss)
(12,619)
21,365
(7,095)
(30,644)
(17,341)
Less: Net income/(loss) from continuing operations
attributable to the noncontrolling interest shareholders
(1)
(2)
(1)
(265)
2
Net loss from continuing operations attributable to Sohu.com
Limited
(12,618)
(14,059)
(7,094)
(65,805)
(17,343)
Net income from discontinued operations attributable to
Sohu.com Limited
–
35,426
–
35,426
–
Net income/(loss) attributable to Sohu.com Limited
(12,618)
21,367
(7,094)
(30,379)
(17,343)
Basic net loss from continuing operations per share/ADS
attributable to Sohu.com Limited[7]
$
(0.37)
$
(0.41)
$
(0.21)
(1.93)
$
(0.50)
Basic net income from discontinued operations per share/ADS
attributable to Sohu.com Limited
$
–
$
1.04
$
–
1.04
$
–
Basic net income/(loss) per share/ADS attributable to
Sohu.com Limited
$
(0.37)
$
0.63
$
(0.21)
(0.89)
$
(0.50)
Shares/ADSs used in computing basic net income/(loss) per
share/ADS attributable to Sohu.com Limited
34,061
34,190
34,091
34,109
34,945
Diluted net loss from continuing operations per share/ADS
attributable to Sohu.com Limited
$
(0.37)
$
(0.41)
$
(0.21)
(1.93)
$
(0.50)
Diluted net income from discontinued operations per
share/ADS attributable to Sohu.com Limited
$
–
$
1.04
$
–
1.04
$
–
Diluted net income/(loss) per share/ADS attributable to
Sohu.com Limited
$
(0.37)
$
0.63
$
(0.21)
(0.89)
$
(0.50)
Shares/ADSs used in computing diluted net income/(loss) per
share/ADS attributable to Sohu.com Limited
34,061
34,190
34,091
34,109
34,945
[6] See Footnote 1.
[7] Each ADS represents one ordinary share.
SOHU.COM LIMITED
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED, IN THOUSANDS)
As of Dec. 31, 2023
As of Dec. 31, 2022
ASSETS
Current assets:
Cash and cash equivalents
$
362,504
$
697,821
Restricted cash
3,184
3,641
Short-term investments
597,770
473,624
Accounts receivable, net
71,618
67,541
Prepaid and other current assets
81,971
83,093
Total current assets
1,117,047
1,325,720
Fixed assets, net
269,058
288,226
Goodwill
47,163
47,415
Long-term investments, net
45,198
26,012
Intangible assets, net
2,226
5,394
Long-term time deposits
388,613
265,802
Other assets
12,793
19,207
Total assets
$
1,882,098
$
1,977,776
LIABILITIES
Current liabilities:
Accounts payable
$
44,609
$
56,449
Accrued liabilities
103,779
126,461
Receipts in advance and deferred revenue
50,829
48,080
Accrued salary and benefits
50,330
60,754
Taxes payables
11,363
10,612
Other short-term liabilities
81,482
114,532
Total current liabilities
$
342,392
$
416,888
Long-term other payables
3,924
1,795
Long-term tax liabilities
474,374
448,043
Other long-term liabilities
2,130
340
Total long-term liabilities
$
480,428
$
450,178
Total liabilities
$
822,820
$
867,066
SHAREHOLDERS’ EQUITY:
Sohu.com Limited shareholders’ equity
1,058,956
1,109,442
Noncontrolling interest
322
1,268
Total shareholders’ equity
$
1,059,278
$
1,110,710
Total liabilities and shareholders’ equity
$
1,882,098
$
1,977,776
SOHU.COM LIMITED
RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES
(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
Three Months Ended Dec. 31, 2023
Three Months Ended Sep. 30, 2023
Three Months Ended Dec. 31, 2022
GAAP
Non-GAAP
Adjustment
Non-GAAP
GAAP
Non-GAAP
Adjustment
Non-GAAP
GAAP
Non-GAAP
Adjustment
Non-GAAP
–
(a)
15
(a)
(8)
(a)
Brand advertising gross profit
$
3,229
$
–
$
3,229
$
3,342
$
15
$
3,357
$
14,758
$
(8)
$
14,750
Brand advertising gross margin
16 %
16 %
15 %
15 %
51 %
51 %
(44)
(a)
18
(a)
18
(a)
Online games gross profit
$
99,636
$
(44)
$
99,592
$
102,010
$
18
$
102,028
$
102,493
$
18
$
102,511
Online games gross margin
87 %
87 %
87 %
87 %
84 %
84 %
–
(a)
–
(a)
–
(a)
Others gross profit
$
4,672
$
–
$
4,672
$
5,607
$
–
$
5,607
$
7,353
$
–
$
7,353
Others gross margin
73 %
73 %
89 %
89 %
72 %
72 %
(44)
(a)
33
(a)
10
(a)
Gross profit
$
107,537
$
(44)
$
107,493
$
110,959
$
33
$
110,992
$
124,604
$
10
$
124,614
Gross margin
76 %
76 %
76 %
76 %
78 %
78 %
Operating expenses
$
132,816
$
961
(a) $
133,777
$
131,590
$
(677)
(a) $
130,913
$
130,184
$
(528)
(a) $
129,656
(1,005)
(a)
710
(a)
538
(a)
Operating loss
$
(25,279)
$
(1,005)
$
(26,284)
$
(20,631)
$
710
$
(19,921)
$
(5,580)
$
538
$
(5,042)
Operating margin
-18 %
-19 %
-14 %
-14 %
-3 %
-3 %
Income tax expense
$
14,044
$
(3,667)
(d)$
10,377
$
15,340
$
(3,149)
(d)$
12,191
$
7,413
$
(1,954)
(c,d)$
5,459
(1,005)
(a)
710
(a)
538
(a)
(827)
(b)
–
2,442
(b)
–
–
(610)
(c)
3,667
(d)
3,149
(d)
2,564
(d)
Net loss before non-controlling interest
$
(12,619)
$
1,835
$
(10,784)
$
(14,061)
3,859
(10,202)
$
(7,095)
$
4,934
$
(2,161)
(1,005)
(a)
710
(a)
538
(a)
(827)
(b)
–
2,442
(b)
–
–
(610)
(c)
3,667
(d)
3,149
(d)
2,564
(d)
Net loss from continuing operations
attributable to Sohu.com Limited for
diluted net loss per share/ADS
$
(12,618)
$
1,835
$
(10,783)
$
(14,059)
3,859
(10,200)
$
(7,094)
$
4,934
$
(2,160)
Net income from discontinued operations
attributable to Sohu.com Limited for
diluted net loss per share/ADS [8]
$
–
–
–
$
35,426
–
$
35,426
$
–
–
$
–
Net income/(loss) attributable to
Sohu.com Limited for diluted net
income/(loss) per share/ADS
$
(12,618)
1,835
(10,783)
$
21,367
3,859
25,226
$
(7,094)
$
4,934
$
(2,160)
Diluted net loss from continuing
operations per share/ADS attributable to
Sohu.com Limited
$
(0.37)
$
(0.32)
$
(0.41)
$
(0.30)
$
(0.21)
$
(0.06)
Diluted net income from discontinued
operations per share/ADS attributable to
Sohu.com Limited
$
–
–
$
1.04
$
1.04
$
–
$
–
Diluted net income/(loss) per share/ADS
attributable to Sohu.com Limited
$
(0.37)
(0.32)
$
0.63
$
0.74
$
(0.21)
$
(0.06)
Shares/ADSs used in computing diluted
net income/(loss) per share/ADS
attributable to Sohu.com Limited
34,061
34,061
34,190
34,190
34,091
34,091
Note:
(a) To eliminate the impact of share-based awards.
(b) To adjust for changes in the fair value of the Company’s investments.
(c) To adjust for the impact of income tax related to changes in the fair value of the Company’s investments.
(d) To adjust for the effect of the Toll Charge.
[8] See Footnote 1.
SOHU.COM LIMITED
RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATION MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES
(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
Twelve Months Ended Dec. 31, 2023
Twelve Months Ended Dec. 31, 2022
GAAP
Non-GAAP
Adjustments
Non-GAAP
GAAP
Non-GAAP
Adjustments
Non-GAAP
7
(a)
48
(a)
Brand advertising gross profit
$
17,586
$
7
$
17,593
$
16,591
$
48
$
16,639
Brand advertising gross margin
20 %
20 %
16 %
16 %
10
(a)
143
(a)
Online games gross profit
$
414,668
$
10
$
414,678
$
494,423
$
143
$
494,566
Online games gross margin
86 %
86 %
84 %
84 %
–
(a)
–
(a)
Others gross profit
$
22,661
$
–
$
22,661
$
31,285
$
–
$
31,285
Others gross margin
70 %
70 %
69 %
69 %
17
(a)
191
(a)
Gross profit
$
454,915
$
17
$
454,932
$
542,299
$
191
$
542,490
Gross margin
76 %
76 %
74 %
74 %
Operating expenses
$
542,225
$
(691)
(a)$
541,534
$
543,172
$
(4,748)
(a)$
538,424
708
(a)
4,939
(a)
Operating profit/(loss)
$
(87,310)
$
708
$
(86,602)
$
(873)
$
4,939
$
4,066
Operating margin
-15 %
-14 %
0 %
1 %
Income tax expense
$
60,420
$
(12,297)
(c,d)$
48,123
$
57,946
$
(5,118)
(c,d)$
52,828
708
(a)
4,939
(a)
1,391
(b)
9,659
(b)
(555)
(c)
(2,416)
(c)
12,852
(d)
7,534
(d)
Net income/(loss) before non-controlling
interest
$
(66,070)
14,396
(51,674)
$
(17,341)
$
19,716
$
2,375
708
(a)
4,939
(a)
1,391
(b)
9,659
(b)
(555)
(c)
(2,416)
(c)
12,852
(d)
7,534
(d)
Net income/(loss) from continuing operations
attributable to Sohu.com Limited for diluted net
income/(loss) per share/ADS
$
(65,805)
$
14,396
$
(51,409)
$
(17,343)
$
19,716
$
2,373
Net income from discontinued operations
attributable to Sohu.com Limited for diluted net
income per share/ADS [9]
$
35,426
–
35,426
$
–
$
–
$
–
Net income/(loss) attributable to Sohu.com
Limited for diluted net income/(loss) per
share/ADS
$
(30,379)
14,396
(15,983)
$
(17,343)
$
19,716
$
2,373
Diluted net income/(loss) from continuing
operations per share/ADS attributable to
Sohu.com Limited
$
(1.93)
$
(1.51)
$
(0.50)
$
0.07
Diluted net income from discontinued
operations per share/ADS attributable to
Sohu.com Limited
$
1.04
1.04
$
–
–
Diluted net income/(loss) per share/ADS
attributable to Sohu.com Limited
$
(0.89)
(0.47)
$
(0.50)
0.07
Share/ADS used in computing diluted net
income/(loss) per share/ADS attributable to
Sohu.com Limited
34,109
34,109
34,945
34,945
Note:
(a) To eliminate the impact of share-based awards.
(b) To adjust for changes in the fair value of the Company’s investments.
(c) To adjust for the impact of income tax related to changes in the fair value of the Company’s investments.
(d) To adjust for the effect of the U.S. TCJA.
[9] See Footnote 1.
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SOURCE Sohu.com Limited
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Technology
Bonus Days Off, No Meeting Days and Virtual Water Coolers: Naturals2Go Brings a New Era of Company Culture & Commitment
Published
25 mins agoon
September 20, 2024By
Naturals2Go, a leader in the unattended retail, breakroom experience, and vending industry, is unveiling a series of meaningful initiatives designed to foster connection, creativity, and care within its workforce. These initiatives reflect Naturals2Go’s commitment to cultivating an environment where both personal and professional growth are prioritized, helping the quickly growing company hold its position as an organization that simply values its employees with as much care as its customers. It just does business differently.
SAVANNAH, Ga., Sept. 20, 2024 /PRNewswire-PRWeb/ — Naturals2Go, a leader in the unattended retail, breakroom experience, and vending industry, is unveiling a series of meaningful initiatives designed to foster connection, creativity, and care within its workforce. These initiatives reflect Naturals2Go’s commitment to cultivating an environment where both personal and professional growth are prioritized, helping the quickly growing company hold its position as an organization that simply values its employees with as much care as its customers. It just does business differently.
Innovation In Action
Naturals2Go is known for innovating the vending industry by offering the only proven program to enhance or improve income, investment, or future wealth through a part-time or full-time vending machine business. They have changed the industry again by developing regional operations centers and a wider range of services.
To do so, Naturals2Go has grown from 20 to 140 employees over the past four years. To help the team stay successful and cared for through this rapid expansion, Naturals2Go executives have introduced three new programs.
These exciting initiatives enhance the quality of life, not just work, for employees — whether they are one of the 100 remote members of the team or in one of the company’s regional operations centers (ROCs).
“You don’t have to be, and shouldn’t be, ‘in it’ all the time,” says Heath Falzarano, President of Naturals2Go.
Refresh2Go: This initiative gives employees one additional (paid) Friday each month, at the same time, to step away from work to recharge however they wish.Vision2Go: Every Wednesday, employees have a mandatory day of no meetings — a day dedicated to creative thinking, process improvement, and strategic planning. This initiative helps individuals and teams take a breather from day-to-day demands and see the bigger picture to guide improvements from ideas to efficiencies.Water Cooler Chats: Recognizing the challenges faced by a dispersed workforce, Naturals2Go has also implemented two daily 15-minute water cooler chats. These optional sessions are designed for a social break – a chance to connect with peers they may not even know yet, strengthening the company’s culture and community.
Why These Initiatives Matter
Falzarano emphasizes his personal belief in caring for those in the organization as much as customers: “We get to help people make a really good living while also letting them live a really good life.” This is true for both the company and those who invest in a Naturals2Go business program.
The importance of these initiatives is underscored by industry trends which highlight the growing need for companies to prioritize employee well-being. Falzarano has championed these initiatives at Naturals2Go, believing that a healthy, supported workforce is crucial to the company’s long-term success.
“Encouraging people to just breathe – to step away from work and know you can enjoy what you have without worry – is what we’re trying to do here,” Falzarano explains. “Nothing bad is going to happen by taking care of yourself a bit more. I know we can do what we need to do in less time, more focus, and just feel better.”
About Naturals2Go
Naturals2Go is the leading unattended retail, breakroom experience and vending business opportunity in the United States – a trusted partner helping entrepreneurial-minded professionals grow for over 35 years. Naturals2Go is an innovator in healthy and intelligent vending and is the highest-rated, longest-serving, most awarded Vending Business Opportunity Company in the United States. The company is expanding with regional operations centers across the U.S. and an expanded suite of services plus a commitment to regional investment, local employment, and community impact. Naturals2Go is committed to leading the industry with a forward-thinking approach and a strong company culture.
If you would like more information about Naturals2Go, email kim.page@naturals2go.com or visit Naturals2Go on the Web at www.naturals2go.com.
Media Contact
Kim Page, Naturals2Go, 1 716-247-6621, kim.page@naturals2go.com, https://www.naturals2go.com/
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SOURCE Naturals2Go
Technology
This Week in Consumer News: 13 Stories You Need to See
Published
25 mins agoon
September 20, 2024By
A roundup of the most newsworthy consumer and retail announcements from PR Newswire this week, including new holiday flavors from My/Mochi and Simply, plus Toy Insider’s hottest toys of 2024.
NEW YORK, Sept. 20, 2024 /PRNewswire/ — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help consumer/retail journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
Tupperware Voluntarily Initiates Chapter 11 Proceedings
Tupperware will seek Court approval to continue operating during the proceedings and remains focused on providing its customers with its award-winning, innovative products through Tupperware sales consultants, retail partners and online.M&M’S® Captures A Classic Within Its Iconic Colorful Candy Shell; Introducing NEW M&M’S Peanut Butter & Jelly
The first new flavor innovation since 2022, the delicious addition features berry flavored bite-sized chocolate treats with a deliciously smooth peanut butter center that will transport fans to the comforting experience of a PB&J sandwich.Chili’s® Fires at Fast Food Again with Irresistible 3 For Lunch Combos
During the week (Monday-Friday) from 11 a.m. to 3 p.m. local time (at participating locations), guests can enjoy real value with 11 available options in the new 3 For Lunch Combos, featuring bottomless chips and salsa, choice of entrée and a bottomless non-alcoholic drink, all starting at just $10.99.My/Mochi™ Makes the Holidays “Joyfully Chill” With the Launch of Three NEW Flavors: Hot Cocoa with Marshmallows, Sugar Cookie and Gingerbread
The original and largest mochi ice cream brand is also bringing back fan favorites Pumpkin Spice, Apple Pie á la Mode and Cool Peppermint. “My/Mochi is all about stretching the possibilities of what’s possible with mochi, and this time of year gives us so much runway to have fun with new flavors,” says Brigette Wolf, Chief Marketing Officer, My/Mochi.Crocs Launches the Keep It Going Classic Clog Made with 25% Recycled Material from Consumers’ Well-Loved Shoes
By incorporating bio-circular content, Crocs is giving a second life to plant-based byproducts that would have otherwise ended up as waste through material innovation. In combination with the 25% post-consumer recycled content, the Keep It Going Classic Clog showcases the brand’s efforts at the intersection of circular innovation and materials.KIT KAT® is Giving YOU a Break This Fall to Celebrate Its New Vanilla Flavor
To celebrate, KIT KAT® is giving fans a “break” through a giveaway on @KITKAT_US’s Instagram, where four lucky winners will receive KIT KAT®-branded BÉIS Carry-on luggage filled with KIT KAT® Vanilla bars, and one grand prize winner will receive an additional $1,000 vacation rental marketplace gift card toward travel expenses to spend on a vanilla getaway this fall.Target Brings Holiday Magic with More Savings Across Largest Holiday Assortment Ever
Target is offering consumers savings all season long starting with Target Circle Week, Oct. 6-12, for those who want a head start on holiday shopping. The retailer is also preparing to deliver a joyful and easy shopping experience by investing in its existing team and hiring approximately 100,000 additional seasonal team members.STOUFFER’S® Debuts First Shelf-Stable Offering with New Format of Macaroni and Cheese
With a stovetop cooking time of just ten minutes and no additional ingredients required, STOUFFER’s Supreme Shells & Cheese is a great-tasting and effortless meal for any night of the week, offering the perfect answer to the age-old question “What’s for dinner?” Martha Stewart’s Revitalizing Secret Exposed! Pure Leaf Unsweetened Iced Tea is “Martha’s Little Helper” in New Campaign As seen in videos across social media, her secret stash of Pure Leaf is always accessible for a quick, revitalizing pick-me-up – whether buried in her garden, hidden in her library books or even baked into a homemade cake.Holiday Shoppers, Rejoice: The Toy Insider Experts Reveal the Hottest Toys of 2024 that Deliver Big Value!
This year’s hottest toys appear on one of three featured lists: the Hot 20, the most popular playthings of the year; the STEM 10, top toys that encourage STEM learning; and the 12 Under $20, the best toys that won’t break the bank.Makers of the Jennie-O® Brand Share New State-By-State Consumer Insights on All Things Thanksgiving Among the survey findings: Most people take up to two weeks to plan and cook their Thanksgiving meal. Actual food preparation for this monumental eating occasion adds another three days, and five hours of actual cooking on the day of.Move Over Pumpkin Spice, Simply Spiked® Cranberry Arrives Just in Time to be Your New Fall Favorite
This limited-time offering marks the brand’s first foray into seasonal releases, introducing two delicious varieties: Signature Cranberry and Apple Cranberry.Personalized Skincare Brand, Curology Marks 10 Year Anniversary With A Funfetti® Partnership
Designed to evoke a sense of nostalgia and joy, the lip balm captures the nostalgic Funfetti® vanilla cake batter notes, sugared sprinkle sweetness, and signature vanilla frosting, aligning perfectly with the celebratory spirit of the brand’s anniversary.
For more news like this, check out all of the latest retail-related releases from PR Newswire.
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Helping Journalists Stay Up to Date on Industry News
These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.
Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:
Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.
About PR Newswire
PR Newswire is the industry’s leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world.
For questions, contact the team at media.relations@cision.com.
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SOURCE PR Newswire
Technology
This Week in Tech News: 13 Stories You Need to See
Published
25 mins agoon
September 20, 2024By
A roundup of the most newsworthy tech announcements from PR Newswire this week, including Starlink Wi-Fi on United flights and a flying car manufacturing deal.
NEW YORK, Sept. 20, 2024 /PRNewswire/ — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help tech journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
IBM and Microsoft Open Three New Experience Zones to Provide Global Clients with More Hands-on Access to Cloud and Generative AI Solutions
These Experience Zones are designed to help global clients across industries, such as financial services, government, healthcare, industrial, manufacturing and consumer packed goods (CPG), find new ways to derive value from generative AI, hybrid cloud and other Microsoft products and technologies.B-FY passwordless biometric solution: a real gamechanger in the fight against Cybercrime
The ongoing reliance on passwords as a primary authentication method has left countless organizations vulnerable to attacks, resulting in severe financial and reputational damage. B-FY offers a robust solution to this growing vulnerability by eliminating the need for passwords altogether.Lockheed Martin Awarded GeoXO Lightning Mapper Contract to Support Forecasters with Severe Weather Monitoring
The GeoXO Lightning Mapper (LMX) instrument detects and measures lightning flashes while onboard NOAA’s next-generation GeoXO weather satellites. This lightning data will provide persistent severe weather observations of the Western Hemisphere, improving storm analysis and prediction, and aiding the detection of tornado-producing storms.Zero Latency VR Enters A New Era With 100 Venues Worldwide And 4 Million Players Pushing The Limits Of Reality
Zero Latency is gearing up to launch its most ambitious experience yet: Warhammer 40,000: Space Marine VR – Defenders of Avarax. This groundbreaking adventure will plunge players into the most expansive and intricately detailed VR universe ever crafted.NASA Shares Hidden Figures Congressional Gold Medal Remarks
The awards recognized the women who contributed to the space race, including the NASA mathematicians who helped land the first astronauts on the Moon under the agency’s Apollo Program.Alef signs mass manufacturing flying car agreement
PUCARA Aero and MYC, a joint venture with experience manufacturing aviation grade parts for Boeing and Airbus, signs an agreement to manufacture parts for Alef. Alef has secured over 3,200 pre-orders and is now entering agreements for mass production of its Model A flying car.The Inflight Wi-Fi Revolution Now Arriving: United Signs Starlink Deal to Provide Industry-Leading Connectivity in the Sky – For Free
“We’re excited to team up with United Airlines to transform the inflight experience,” said Gwynne Shotwell, President and Chief Operating Officer at SpaceX. “With Starlink onboard your United flight, you’ll have access to the world’s most advanced high-speed internet from gate to gate, and all the miles in between.”Spectrum Announces Unprecedented Customer Commitment, Free Internet Speed Lifts and New Bundled Pricing
These commitments are encapsulated within Spectrum’s new brand platform, Life Unlimited, which provides customers access to a life of ‘unlimited’ opportunity and possibility when seamlessly connected through Spectrum’s Internet, Mobile and Video services.Chipotle Debuts Autocado and the Augmented Makeline by Hyphen in Restaurants
With Autocado, crew members can focus on assisting with other food prep items and delivering exceptional hospitality to guests while Autocado cuts avocados, removes their skin, and separates their fruit through an automated process. On average, it takes Autocado approximately 26 seconds to fully flesh out the fruit inside an avocado.Infinix Taps Porsche Dreamer Stories Featured Creator: Discover the ZERO 40 Series GoPro Mode
Creative photographer Allan Yegon, armed with his Infinix ZERO 40 5G and GoPro device, embarked on an East African adventure. He dove beneath the waves and captured the rare moment of swimming with a giant whale shark.TerraMaster Unveils 9 New NAS Models with TOS 6 System
TerraMaster, a leading brand in home and enterprise storage solutions, announced the launch of 9 new NAS models, including two 8-bay all-flash NAS models specifically designed for high-performance needs.Ginkgo Bioworks Launches New Protein LLM and Model API Built on Google Cloud Technology
Chris Sakalosky, vice president of Strategic Industries, Google Cloud: “Ginkgo’s new protein LLM and open API mark a major step forward in making advanced AI tools accessible for drug discovery and biological research. By leveraging Google Cloud’s infrastructure and AI capabilities, Ginkgo is empowering both enterprises and individual scientists to accelerate their work and drive innovation in the life sciences.”Behind the Scenes at Apple Event 2024: How the iPhone 16 Pro and SmallRig Phone Cage Created Cinematic Magic?
It is the third consecutive year that the SmallRig phone cage has appeared at Apple’s event and the fourth consecutive year it has been featured in an Apple spot for the new iPhone series, showcasing how to achieve professional cinematic video using an iPhone.
For more news like this, check out all of the latest technology-related releases from PR Newswire.
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Info-Tech LIVE 2024
Info-Tech Research Group’s Info-Tech LIVE 2024 took place September 17-19 at the iconic Bellagio in Las Vegas. It offered journalists and media influencers a sneak peek into the latest technology research and trends, exclusive content, and the opportunity to meet industry experts, analysts and speakers.
Here are the front row updates straight from Info-Tech Research Group:
Info-Tech LIVE 2024 Day 1 Highlights: Key Insights Shared on Exponential IT, GenAI, and Emerging IT TrendsThe CIO Playbook Revealed by Info-Tech Research Group at LIVE 2024: New Program Will Drive IT Excellence Through a Systematic 12-Month RoadmapNext-Generation Management & Governance Framework Unveiled at LIVE 2024 Conference Will Empower IT Leaders in an Era of Exponential IT
Helping Journalists Stay Up to Date on Industry News
These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.
Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:
Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.
About PR Newswire
PR Newswire is the industry’s leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world.
For questions, contact the team at media.relations@cision.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/this-week-in-tech-news-13-stories-you-need-to-see-302253751.html
SOURCE PR Newswire
Bonus Days Off, No Meeting Days and Virtual Water Coolers: Naturals2Go Brings a New Era of Company Culture & Commitment
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