Sohu.com Limited (SOHU) 2013年年度报告「NASDAQ」.pdf

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1、Dear Shareholders:In the past year,the internet industry in China has continued to see a fast pace of growth and undergo aprofound transformation.The PC to mobile migration is reshaping our industry.Hundreds of millions ofpeople are increasingly using mobile devices to access and consume online cont

2、ent.As a pioneering companyin the industry,we have worked hard to build our own capacity to respond to the changing habits of users.Our range of mobile applications,including Sohu News,Sohu Video,and the mobile version of Sogou Pinyin,the dominant software for Chinese language input,helped us mainta

3、in rapid user growth across our platformand a leading position in each of the segments we operate.In terms of financial performance,our key business lines achieved solid revenue growth which enabled usto make proactive investments in a variety of new initiatives,especially in mobile.Total revenues r

4、eacheda new record at US$1.4 billion,up 31%year-over-year.For online video,revenues more than doubled froma year ago,primarily due to our strong content offering and enhanced sales efforts.Our search subsidiary,Sogou,formed a strategic partnership with Tencent.The deal made new Sogou a stronger cont

5、ender inChinese search market.And our online game subsidiary,Changyou,delivered another year of record revenueswhile investing aggressively in its game pipeline and platform initiatives as it looks to secure opportunitiesfor long-term growth.Financial Highlights Total revenues set a new record at US

6、$1.4 billion,up 31%year-over-year.Net brand advertising revenues were US$429 million,up 48%year-over-year.Sogou revenues were US$216 million,up 65%year-over-year.Online games revenues were US$669 million,up 17%year-over-year.Operating HighlightsSohu VideoSohu Video continued to focus on bolstering i