Sogou result: SOGO share 3% higher on positive outlook

<p>Sogou (NYSE: SOGO) profit for the Chinese web search company’s fiscal fourth quarter 2019 2019 has SOGO shares on Monday. This is thanks to the adjusted earnings per share (EPS) of 10 cents, which comes above the Wall Street estimate of 8 cents per share. But its revenue of $ 301.02 million is slightly below analysts’ estimates of $ 301.24 million – but does not reduce the SOGO share.

Source: Gil C / Shutterstock.com

Here are some additional highlights from the latest Sogou results report.

Adjusted earnings per share increased by 42.86% from 7 cents during the same period last year. Sales for the quarter were 1.08% higher than the $ 297.8 million reported in the fourth quarter of 2018. Operating profit of $ 37.4 million is an increase of 201.61% compared to the same period last year from $ 12.4 million . Sogou’s earnings report also includes a net profit of $ 34.99 million. This is an improvement of 32.54% compared to the company’s net profit of $ 26.4 during the same period the year before.

Xiaochuan Wang, CEO of Sogou, said the following about SOGO share income:

“Our business showed resilience in 2019 despite continued headwinds in the macro environment and in the online advertising industry in China. Search revenues increased faster than the industry average in 2019, when we intensified our efforts to expand our content and service ecosystem. ”

Sogou’s earnings report also includes the outlook for the first quarter of 2020. Revenue for the quarter is expected to range from $ 240 million to $ 260 million. That would beat Wall Street’s estimate of $ 237.2 million for the period.

The SOGO share increased by 3.12% as of Monday afternoon.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/sogou-earnings-send-sogo-stock-up/.

© 2020 InvestorPlace Media, LLC