NEW YORK, June 2, 2026, 15:04 (EDT)
- Sohu shares traded on Nasdaq gained 0.8% to $13.93 in the afternoon session.
- The stock moved without any new company filing since the first-quarter update on May 18.
- Investors look at a $1.2 billion cash pile and buyback plans as they digest softer Q2 guidance.
Sohu.com Limited’s U.S. shares edged higher Tuesday afternoon, gaining 0.8% to $13.93 on light volume. The move came as investors focused on the company’s most recent earnings rather than new headlines. Shares traded in a range from $13.55 to $13.99, with volume a little above 33,000.
Sohu, a smaller Chinese internet and gaming stock on Nasdaq, is moving mostly on its last update, not fresh news. Timing is key here. Nasdaq trades from 9:30 a.m. to 4 p.m. Eastern, and June 2 shows up as a regular trading day for 2026.
Sohu’s American depositary shares have found support this month from two things in the latest filing: a hefty cash pile and a buyback plan. The company reported cash, cash equivalents, short-term investments and long-term time deposits of roughly $1.2 billion as of March 31.
The company said it repurchased 8.7 million ADSs for around $116 million through May 13, part of its earlier $150 million buyback plan. Buybacks can lift per-share value by cutting share count, but they don’t solve soft revenue by themselves.
SOHU.com Limited’s latest filing reported first-quarter revenue at $141 million, a 4% increase from last year but 1% lower than the previous quarter. Online games brought in $125 million, up 6% year over year. Marketing services revenue fell 8% to $13 million.
SOHU.com Limited Chairman and Chief Executive Charles Zhang said in the May 18 release that marketing services revenue, online game revenue, and profit all beat the company’s earlier guidance. Zhang said online games “delivered another solid quarter.” SOHU.com Limited
The easy part is out of the way. What’s less clear is the outlook.
Sohu said it sees Q2 marketing services revenue coming in between $13 million and $14 million, with online game revenue expected in the $104 million to $114 million range. The company is also calling for a net loss of $15 million to $25 million on both a GAAP and non-GAAP basis, with non-GAAP stripping out some costs and other charges.
Zhang told the earnings call that advertisers are under pressure. “Chinese consumers are spending less,” he said. He also noted ad budget cuts were “across the board.” This is Sohu’s core risk: when the Chinese ad market weakens, it can hit growth from events, video, and other media efforts. Investing
Chinese internet stocks traded higher. NetEase added 1.6%, Bilibili was up 1.9%, and Baidu gained 3.5%. The moves suggest Sohu’s advance is part of a wider push into U.S.-listed Chinese internet names, rather than a solo breakout for the stock.
The tech sector barely moved, with the Invesco QQQ Trust tracking big Nasdaq names up 0.2%. Sohu’s advance is solid, though not standout.
Sohu faces the chance that investors are focused on its balance sheet and buyback, but its operating trend is still choppy. If game revenue falls as the company expects, or marketing services stay soft with advertisers slow to spend, Sohu could see a bigger loss in Q2 and give up some of Tuesday’s slight gain.
