Ladies and gentlemen, thank you for standing by and good evening. Thank you for joining Sohu's third quarter 2020 earnings conference call. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a question and answer session. Today's conference call is being recorded. If you have any objections, you may disconnect at this time. I'd now like to turn the conference over to your host for today's conference call, Pu Huang, Investor Relations Director of Sohu. Please go ahead.
Thanks, operator. Thank you for joining us today to discuss Sohu's third quarter 2020 results. On the call are Chairman and Chief Executive Officer, Dr. Charles Zhang, CFO Joanna Lv, and Vice President of Finance, James Deng. Also with us today are Changyou CEO, Dewen Chen, and CFO, Yaobin Wang. Before management begins their prepared remarks, I would like to remind you of the company's safe harbor statement in connection with today's conference call. Except for the historical information contained herein, the matters discussed on this conference call may contain forward-looking statements. These statements are based on current plans, estimates, and projections, and therefore, you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement.
For more information about the potential risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission, including the most recent annual report on Form 20-F. With that, I will now turn the call over to Dr. Charles Zhang. Charles, please proceed.
Thanks, Huang Pu, and thank you to everyone for joining our call. In the third quarter of 2020, to further consolidate our core competitiveness and credibility, we continued to optimize our product, refine our technology, enhance the quality of premium content, and improve its distribution. At the same time, we kept exploring creative, new and differentiated monetization opportunities. Benefiting from our more mature and sophisticated Sohu Video app and its advanced live broadcasting technology, we successfully hosted many innovative content marketing campaigns that could leverage the broad reach of our product portfolio. We saw positive feedback in terms of user interaction and from advertisers. For this quarter, despite the current challenging macroeconomic environment, our brand advertising revenue reached the high end of our prior guidance and achieved eight percent quarter-over-quarter growth.
Our game business, Changyou's online games performed well for the third quarter of 2020, with revenue exceeding the high end of our prior guidance. Before I go into more detail about our key financial results, please be reminded that on September 29th, 2020, our controlled subsidiary of Sogou, and a subsidiary of Tencent, entered into an agreement and a plan of merger, which contemplates that Sogou will become a wholly-owned subsidiary of Tencent. On the same date, we entered into a share purchase agreement in which we agreed to sell all of our Sogou Class A and Class B ordinary shares to Tencent shortly before the completion of the merger transaction between Tencent and Sogou. Accordingly, Sogou's results of operations have been excluded from the company's results from continuing operations. Retrospective adjustments to the historical statements have been made in order to provide a consistent basis of comparison.
Unless indicated otherwise, the results that we talk about here are related to continuing operations only. For the third quarter of 2020, total revenues are $158 million, down six percent year-over-year and one percent quarter-over-quarter. Brand advertising revenue is $41 million, down 11% year-over-year and up eight percent quarter-over-quarter. Online game revenues were $101 million, down six percent year-over-year and four percent quarter-over-quarter. GAAP net loss from continuing operations attributable to Sohu Limited, Sohu.com Limited, was $50 million, compared with a net loss of $33 million in the third quarter of 2019, and net loss of $77 million in the second quarter of 2020. That was due to the tax planning.
As we spoke due to Non-GAAP net loss from continuing operations attributable to Sohu.com Limited was net loss of $7 million, compared with a net loss of $30 million in the third quarter last year, and net loss of $75 million in the second quarter of 2020, also due to the tax planning. Let me go into each key businesses. First, Media Portal and Sohu Video. We continue to upgrade our products, improve the technology, and refine social distribution features. We stimulated the generation of new content and further expanded our content dissemination. User interaction was enhanced on both the Sohu News App and the Sohu Video App. We're constantly looking for new ways to boost organic growth across our products, while strictly controlling the budget.
For Sohu Video, we further strengthened our two-engine strategy with long-form and short-form videos, and accelerated the layout of value live streaming, where we disseminate professional knowledge and the reliable information across various vertical areas. We continue to concentrate on improving our live streaming technology and have applied these advanced technologies to various events, which allowed users to interact with each other in real time, and without upper limit of user numbers. During the quarter, we successfully hosted a number of flagship events, such as the sixth International Drone Photography Contest, Fox Friend National Campus Beauty Contest, the Best Selection series, live streaming e-commerce basically, and others. With our enhanced video sharing technology, we not only stimulated online and offline interaction among viewers, but also enhanced the generation of high-quality content, improved distribution across our products.
On the monetization side, and with these technologies and the more mature Sohu Video App, we proactively explored new monetization opportunities and increased our monetization efficiency, featured as value streaming, live streaming, and live commerce, provided a new way for the advertisers to promote their brands and stimulate sales. Under the live commerce, we share ideas, knowledge, and thoughts about lifestyle while recommending premium products. We're able to meet advertisers' marketing demands and capture their attention and budgets. Going forward, we'll continue to diversify our monetization strategies and actively explore new opportunities. Now, let me turn to Changyou game business. For the third quarter 2020, Changyou's online games performed well. For PC games, Changyou launched this year's second in-game promotional event, and various holiday events for TLBB PC, which maintained user engagement, and the game's revenue remained stable on a sequential basis.
For mobile games, Changyou launched a new expansion pack for Legacy TLBB Mobile, featuring the addition of new clan and a new method of character development. Next quarter, Changyou will continue to focus on maintaining user stability by updating game content and making optimization for TLBB PC and Legacy TLBB Mobile. More recently, in October, Changyou rolled out some special servers for TLBB PC that used content from an old version of the game. It has already attracted some players that we lost over the years who love the game and feel nostalgic for their experience from years ago. We expect these new servers will drive up revenue for TLBB PC by some extent in the fourth quarter. Looking ahead, Changyou will firmly execute its core strategy of top games.
Changyou's strategic focus will continue to be on MMORPG mobile games, while we're also developing and looking to roll out other games across various genres. Currently, development of several key games is well underway, and we believe Changyou will bring more quality games to market in the future. Let me turn to Joanna, our CFO, who walks you through our financial results. Joanna.
Thank you, Charles. I will walk you through the key financials of our major segments for third quarter of 2020. All of the numbers that I will mention are all on a non-GAAP basis. You may find a reconciliation of non-GAAP to GAAP measures on our IR website. For Sohu Media Portal, quarterly revenues were $25 million, down three percent year-over-year and up nine percent quarter-over-quarter. The quarterly operating loss was $23 million, compared with an operating loss of $31 million in the same quarter last year. For Sohu Video, quarterly revenues were $23 million, up one percent year-over-year and two percent quarter-over-quarter. The quarterly operating loss was $12 million, compared with an operating loss of $20 million in the same quarter last year. For Changyou, quarterly revenues, including 17173.com, were $104 million, down six percent year-over-year and five percent quarter-over-quarter.
Changyou posted an operating profit of $33 million, compared with $35 million in the same quarter last year. For the fourth quarter of 2020, we expect brand advertising revenues to be between $37 million and $42 million. This implies annual decrease of 11% to an annual increase of one percent. A sequential decrease of 10% to a sequential increase of six percent. Online game revenue to be between $140 million and $150 million. This implies annual increase of six percent to 14% and a sequential increase of 38% to 48%. Non-GAAP net income from continuing operations attributable to Sohu.com Limited, to be between $50 million and $25 million. GAAP net income from continuing operations attributable to Sohu.com Limited, to be between $10 million and $20 million. This forecast reflects Sohu's management current and preliminary view, which is subject to substantial uncertainty, particularly in view of the potential ongoing impact of COVID-19 virus.
Lastly, please be reminded that in the Q&A session, we won't take questions regarding any Sohu business updates or the agreements with Tencent for Sohu's privatization. This concludes our prepared remarks. Operator, we will now like to open the call to questions.
Thank you. Ladies and gentlemen, we will now begin the question and answer session. If you wish to ask a question now, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press the pound or hash key. Once again, ladies and gentlemen, if you wish to ask a question now, please press star one on your telephone. Your first question comes from the line of Thomas Chong from Jefferies. Please go ahead.
Hi, good evening. Thanks, management, for taking my questions. My question is about the brand advertising. Can management comment about the trend for different key categories and how we should think about the momentum in 2021?
Well, key sector, right? Auto industry, number one.
Internet services,
Real estate.
Real estate.
Yeah.
That's the top three categories. We achieved an eight percent increase quarter-over-quarter. I mean, with this macroeconomic, basically a challenging macroeconomic situation. Well, we are having this organic growth or to stabilize the user base. We are not spending a lot of money on marketing channels or marketing for our products. With this creative marketing events and actual content generation events, and also with live streaming to beaming those events, this is very attractive to brand advertisers. That's the reason why we are able to achieve a double-digit revenue growth without spending marketing sales cost.
Thank you.
Thank you. Our next question comes from the line of Alicia Yap from Citig roup. Please ask your question.
Thanks. I'm asking question on behalf of Alicia Yap. For online games, can you remind us the breakdown of PC versus mobile games in the third quarter? What are the drivers for the strong sequential growth of online games implied on your full-year guidance? Thank you.
Basically, in Q3, the division between the PC game and mobile game, right? In terms of revenue, PC game accounts for 61% in the third quarter, and mobile games 39%. In terms of gross billing, cash receipts, PC game accounts for 45% and mobile game accounts for 55%. In the fourth quarter, the increase mainly due to TLBB PC. Actually, we launched some special servers, like Chang mentioned, that have old version as for its content.
Yeah. Attracted some players that we lost over years. The other reason is for we launched a g ame called Illusion Connect in South Korean market. Thank you.
Got it. Thank you.
Thank you. Once again, ladies and gentlemen, if you wish to ask a question, please press star one now. Your next question comes from the line of Chang Chu from Foreign Tech Research.
Yeah, good evening management. Your guidance in online games are very encouraging. I just wonder, is that we are going to a growth mode for the online games going forward?
Yeah, I think for currently we can only say the performance of fourth quarter.
Maybe can you provide us some outlook in terms of your pipeline in games, what are you going to do next year?
We have couple of games that the development is well underway, but the schedule depends on the license approval, application progress and also the testing and their adjustments progress. It's not very easy to predict the specific launch date. For the game that we have obtained the license approval, we may have some more specific timing. Two of those are Project Z, Sea of Dawn, [Non-English content] , and also Tetris. We have had license approval. We will launch the two games in the next year. Next year, we will also put more efforts in the overseas market. We will launch some other new games in the overseas market. Thank you.
Thanks. That's great.
Thank you. Our next question comes from the line of Alex Poon from Morgan Stanley. Please ask the question.
Hi, management. Thanks for taking my question. I have a question on Sohu Video. We know that the industry peers have been stepping up for content investment these days. Just want to get more color on how would the management plan to navigate this kind of industry trend and the content investment strategy going forward. Thank you.
Well, as I just said, we have this twin engine strategy with long form content, short form, basically UGC. For long form, our spending on basically to produce a 12 or at most 15 drama episodes, with reasonable investment, make sure that it become a hit with much less spending compared with our peers. Our spending on producing the long-form TV dramas remain similar to the previous year. For this UGC and also social network product of video, it doesn't need a lot of investment. This live streaming, it's user generated. All the spending are on the product development.
Got it. Thank you.
Thank you. Just a reminder, ladies and gentlemen, to ask a question, please press star one. Right, there are no further questions. With that, we conclude our conference for today. Thank you for participating. You may all disconnect.