Sohu profit dips 75% as ad sales slow down

Costs to upgrade services on web portal also increase

Gulf News

Shagngahi: Inc., the operator of China’s fifth-most-visited website, reported a 75 per cent drop in profit as the company posted slower growth in advertising sales on its web portal and spending to upgrade services rose. Second-quarter net income was 28 cents a share, compared with $1.10 a year earlier, Beijing-based Sohu said in a statement on Monday. China’s online advertising market may expand 39 per cent this year to 65.1 billion yuan (Dh37.51 billion).