Sogou Inc (NYSE:SOGO), a Chinese search engine has moved ahead to make the announcement regarding its fourth quarter and full year 2017 unaudited financial results. One notable aspect is the fact that this turn was one of its best and that is considering the strong results obtained.
In the previous year, the company experienced total revenues of about $908.4 million which was representative of a 38% increase from 2016. The 2017 fourth quarter revenues totaled to $277.8 million which represented the 62% rise year-over-year.
CEO of Sogou Xiaochuan Wang in one of the interviews said that as a company they were very much pleased about the fact that they had managed to post a strong set of results during the fourth quarter. Back in December, the company witnessed its search market share by mobile queries grow to almost 18.2% and basically that was a rise of about three percentage points.
It goes without saying that this development ended up consolidating Sogou’s standing as the second-biggest search engine in China.
The other thing that attracted the attention of many following up closely on the matter was the Sogou Mobile Keyboard which it a pretty similar fashion ended up recording strong growth. That is in consideration of the daily active users who according to reports hit the 330 million mark back in December. That was representative of about 46% upwards year-over-year and it eventually solidified its place as the No. 3 mobile app manufactured by DAU in China.
At this point, the company is turning its focus towards the development of AI technologies. That has been seen over a number of years now and it was just in the course of the previous week that it made the announcement regarding two new AI-powered translation products. These were the Sogou Smart Translation Recorder and the Sogou Travel Translator and it is clear to see that the future looks bright.
An official working with the company said, “The largest chunk of the full year revenues still comes from search and search-related services, which amounted to $801.6 million, a 34% increase from the previous year. The rise was primarily due to growth from Sogou’s auction-based pay-for-click services, which accounted for 83% of search revenues, the company outlined in the press release.”