Sohu.com Tops Expectations, Citigroup Reports

Citigroup reports that Sohu.com, Inc. (NASDAQ:

) delivered a solid 3Q10, with revs growing 20% YoY and non-GAAP NI rising 21% YoY, beating top and bottom by 4% and 13%, respectively. “Specifically, branded advs revs grew 22% YoY, at the high end of the guidance range” Citigroup writes. “Sohu guided 4Q branded advs to grow 26%-31% YoY and online games to 22-26% YoY.” Citigroup said that significant EPS outperformance was mainly attributed to margins improvement in brand advs GM and lower S&M and G&A spend. Search revs came in at US$5.4m, significantly higher than previous quarters. Sohu.com closed Friday at $65.76.