Message #1 From:
NewsBot Date: April 28, 2008 04:41:04 PM
Sohu projects 2Q revenue above analyst estimates; shares up
Monday April 28, 4:30 pm ET
China Internet portal
operator Sohu.com Inc. on Monday forecast second-quarter revenue well
above analysts' expectations.
Shares rose $7.16, or 11.6 percent, to
$69 in midday trading. Earlier, shares set a new year high of $70.74.
The stock has traded in a 52-week range of $22.95 to $64.83.
For
the quarter, Sohu expects revenue of $93 million to $96 million.
Analysts polled by Thomson Financial anticipate revenue of $77.4
million.
Sohu also expects adjusted earnings of 72 cents to 75
cents per share, assuming a statutory income tax rate of 25 percent for
its major operating entities in China.
