Is It Time To Review Stock News? Sogou Inc. (NYSE:SOGO)

Robert Cieslak

Sogou Inc. (NYSE:SOGO) spotted trading -64.07% off 52-week high price. On the other end, the stock has been noted -8.58% away from the low price over the last 52-weeks. The stock changed -11.66% to recent value of $3.41. The stock transacted 2306607 shares during most recent day however it has an average volume of 687.55K shares. The company has 399.22M of outstanding shares and 50.81M shares were floated in the market.  

On Aug. 5, 2019,   Sogou Inc. (NYSE:SOGO) an innovator in search and a leader in China’s internet industry, released its unaudited financial results for the second quarter ended June 30, 2019.

Second Quarter 2019 Highlights

  • Total revenueswere $303.6 million, a 1% increase year-over-year, or an 8% increase in RMB terms.
  • Net income attributable to Sogou Inc. was $21.3 million. Non-GAAP net income attributable to Sogou Inc. was $27.8 million.
  • Sogou Mobile Keyboard had 453 million DAUs (daily average users), up 17% year-over-year. As China’s largest voice app, it processed up to 680 million daily voice requests.

During the second quarter, our business maintained steady growth and we made important progress in key areas, said Xiaochuan Wang, CEO of Sogou. Search revenues continued to grow faster than the industry average.  At the same time, by leveraging the large user bases for both Search and Mobile Keyboard, we have gradually built up our big data and recommendation service at a company level and are focusing on unlocking its commercial value.

Mr. Wang added, We also geared up our efforts to drive innovation in language-centric AI technologies and continued to advance our leadership in voice and computer vision. Moreover, leveraging our core AI capabilities, we made significant progress in upgrading the smart hardware business, with new AI-enabled products launched and more in the pipeline. Going forward, we believe the steady growth in our core search business, coupled with the solid progress in the big data and recommendation service and smart hardware, will support sustainable expansion across our businesses.

Joe Zhou, CFO of Sogou, said, We continued to drive top line growth during the second quarter. Notably, revenues generated from the big data and recommendation service ramped up quickly year-over-year.  Although we anticipate the external environment will remain challenging in the second half of 2019, we expect to experience positive momentum from our new growth drivers.

 Its earnings per share (EPS) expected to touch remained 69.30% for this year while earning per share for the next 5-years is expected to reach at 6.50%. SOGO has a gross margin of 35.80% and an operating margin of 1.60% while its profit margin remained 7.10% for the last 12 months. 

 According to the most recent quarter its current ratio was 2.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of -12.06% from the mean of 20 days, -15.94% from mean of 50 days SMA and performed -37.22% from mean of 200 days price. Company’s performance for the week was -11.66%, -17.23% for month and YTD performance remained -35.05%.

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