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Sohu's Revenue Slips 50% [tradingmarkets.com]
The second quarter financial report of Sohu.com, one of the leading Internet portals in China, shows that sales from pay search service merely reached USD 1.8 million during the period, a decrease of 50 per cent from one year earlier, and 16 per cent from previous quarter, reflecting as one of website's main business the service is in a worse place.
Since the third quarter last year, sales from Sohu's search service has been falling, from USD 3.5 million to the current USD 1.8 million.
Charles Chang, founder and chairman of Sohu.com, once said that its online search service would outpace that of Baidu.com, the biggest Chinese search engine in the world. Now, the situation is clearly out his expectations.
Baidu appears too strong even for the local competition. Sohu was one of the top players before Baidu showed up.