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Sohu.com Inc, which owns China's third-largest search engine, posted a quarterly profit on better-than-expected advertising revenue. Net income was $2 million in the three months ending Dec 31, the Beijing-based company said Monday. That figure compares with the $14.3 million net loss projected by an average of five analyst estimates compiled by Bloomberg. Revenue rose 29 percent to $385 million, compared with analyst expectations of $387.7 million. Sohu, which saw advertising revenue rise 55 percent, is targeting online video and mobile services to become less dependent on its Web portal business amid competition from Baidu and Tencent Holdings Ltd.
