Sohu.com Inc(NASDAQ:SOHU) fell 5% in recent pre-market trading on Monday after reporting it turned to a net loss in Q1 ended March 31, 2014 despite increased revenues. The internet gaming company also issued its financial outlook for Q2 2014.
GAAP net loss attributable to the company was $79 million, or $2.05 per diluted share, compared with a net income of $23 million in the same period last year. Non-GAAP net loss attributable to the company was $48 million, or $1.26 per diluted share, versus net income of $24 million a year earlier. The Capital IQ consensus was for a non-GAAP diluted loss per share of $1.23.
Revenue increased 19% year-over-year to $365 million versus the $366 million Street view.
For Q2 2014, non-GAAP diluted loss per share is expected to be between $1.25 and $1.35 on revenues of between $397 million and $411 million. The average analyst estimate is for revenues of $409.1 million. SOHU closed at $58 on Friday.
Analysts have a consensus price target of $69 on Sohu.com Inc(NASDAQ:SOHU) which indicates a 20% downside. The consensus rating of the stock is a Hold with a score of 2.20. There are currently 6 Hold ratings, 1 Sell ratings and 3 Buy ratings on the stock.
A recent analyst action consisted of Zacks upgrading the stock from Underperform to Neutral with a price target of $78.
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