Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Qihoo 360 Technology Q3 Profit Tops Estimate

RELATED NEWS
Trade QIHU now with 
11/19/2012 5:35 PM ET

Qihoo 360 Technology Co. Ltd. (QIHU: Quote) reported net income for the third quarter of $12.9 million or $0.11 per ADS, compared to $10.9 million or $0.09 per ADS for the year-ago quarter.

Net income excluding share-based compensation was $24.2 million or $0.20 per ADS for the third quarter, compared to $19.5 million or $0.16 per ADS in the prior year quarter.

Revenues for the third quarter jumped 77% to $84.0 million from $47.5 million a year ago, mainly due to continued robust growth in both online advertising and Internet value-added services..

Analsts polled by Thomson Reuters expected the company to earn $0.16 per ADS on revenue of $81.59 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecast fourth quarter revenue to be between $93 million and $94 million, representing a year-over-year increase of 49% - 51%.

For the full year 2012, the company expects revenues to be between $319 million and $320 million.

Analysts currently expect the company to post revenue of $91.29 million for the fourth quarter and $315.51 million for the full year 2012.

Click here to receive FREE breaking news email alerts for Qihoo 360 Technology Co. Ltd. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Justin Moore has been named Humanitarian of the Year by by the Armed Forces Foundation. Moore received the award alongside Big Machine Label Group President/CEO Scott Borchetta for their service and commitment to the morale and welfare of military families through the Crown Royal "Your Hero's Name Here" contest. International Business Machines Corp. said Wednesday after the markets closed that its first quarter profit fell 21% from last year, hurt by lower revenue as well as a hefty workforce rebalancing charge. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Stocks moved sharply higher over the course of the trading day on Wednesday, further offsetting the steep losses posted late last week. The markets benefited from a positive reaction to the latest earnings news as well as remarks by Federal Reserve Chairman Janet Yellen. The major averages saw further upside going into the close, ending the session at their best levels of the day.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.