Sogou Announces Fourth Quarter and Full Year 2020 Results
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BEIJING, Feb. 4, 2021 /PRNewswire/ Sogou Inc. (NYSE: SOGO) ( Sogou or the Company ), an innovator in search and a leader in China s internet industry, today announced its unaudited financial results for the fourth quarter and full year, ended December 31, 2020.
Fourth Quarter 2020 Financial Results
Total revenues
[1]were $189.5 million, a 37% decrease year-over-year. The decrease was primarily driven by uncertainties with respect to Sogou s business policies among certain advertisers as a result of the previously-announced proposal by Tencent Holdings Limited ( Tencent ) to take Sogou private, as well as reduced traffic acquisition activity.