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Chinese portal Sohu reports $45 million loss(Associated Press Via Acquire Media NewsEdge) BEIJING (AP) — Sohu.com Inc., operator of a popular Chinese Internet portal, says it lost $45 million in the latest quarter while revenue rose 18 percent to $400 million. Sohu said Monday the loss for the three months ended June 30 compared with a $69 million loss in the previous quarter and an operating profit of $64 million in the same period of 2013. Profits at China's Internet companies have been squeezed by heavy spending to build a mobile presence as Chinese Web surfers shift quickly to going online wirelessly through smartphones and tablet computers. Sohu operates online media, search, gaming, community and mobile services. In a statement, its chairman, Charles Zhang said its news and video businesses "made solid progress in mobile monetization" as growing user numbers attracted advertisers. Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |