NEW YORK, NY / ACCESSWIRE / August 1, 2017 / Sohu.com and Baidu both saw shares fly higher on Monday. Sohu soared to a new 52-week high after reporting a revenue beat and presenting a favorable forecast for the current quarter. Shares of Baidu also hit a new high after smashing in both the top and bottom line in its second quarter earnings report.

RDI Initiates Coverage on:

Sohu.com Inc.
https://ub.rdinvesting.com/news/?ticker=SOHU

Baidu, Inc.
https://ub.rdinvesting.com/news/?ticker=BIDU

Sohu.com Inc.'s shares jumped higher on Monday, with a solid close in the green up 11.76%. The stock was one of the most active stocks trading in the market with over 3 million shares traded. Shares galloped to a new high of $58.72 after the Chinese consumer internet services company reported yesterday its second quarter earnings. Sales for the company were $461.2 million for the period. Not only was this a growth of 10% year over year but came ahead of the $434.7 million that analysts had expected. A loss of $1.85 a share excluding items, however, were more than the $1.58 a share loss that was expected by the Street. Investors may have been encouraged by the company's outlook. For the third quarter, Sohu forecast a loss of $1.13 a share on revenue of $495 million. This beat the loss of $1.17 a share on $474.6 million revenue that the Street had called for.

CEO Charles Zhang commented, "I am pleased that Sohu delivered better-than-expected revenue growth in the second quarter, driven by solid performance from (online games unit) Changyou (CYOU) and Sogou. The highlight of the quarter was 'Legacy TLBB,' our new mobile game that is a big hit and ranked as one of the top grossing games in China between its launch in mid-May and the end of the quarter." Shares of Sohu have risen about 50% since the start of the year.

Access RDI's Sohu.com Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=SOHU

Baidu, Inc.'s shares closed up 2.89% on Monday and hit a new high of $230 a share during intra-day trading after smashing in its earnings report. Traders had been anticipating the Chinese search engine's results and the company delivered well last Thursday night. The company had its first increase in profits in the last three-quarters. It also posted a revenue increase of 14% year over year. The company non-GAAP reported earnings of $2.37 per share which beat the $1.51 share the Street expected. Revenues at $3.08 billion were in-line with expectations. Looking ahead, the company has forecast revenues to be higher by around $200 million. This would be a growth of 31% higher year on year. In other news, Baidu is also reportedly planning to sell its food delivery service, Waimai, for around $1.25 billion.

Access RDI's Baidu, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=BIDU

Our Actionable Research on Sohu.com Inc. (NASDAQ: SOHU) and Baidu, Inc. (NASDAQ: BIDU) can be downloaded free of charge at Research Driven Investing.

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