FONT-SIZE Plus   Neg

Qihoo 360 Technology Q3 Profit Tops Estimate

Qihoo 360 Technology Co. Ltd. (QIHU) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Flying is the passion for British aviatrix Tracey Curtis Taylor, and she is now on a solo flight to cross three continents and 23 countries in her own vintage open cockpit biplane. She has already crossed half of her journey from U.K. to Australia with a target to cover 13 thousand miles. Sony Computer Entertainment Inc. Wednesday revealed that its popular PlayStation4 computer entertainment system has achieved total sales of more than 30.2 million units worldwide in a period of two years. The PS4 system is currently available in 124 countries. Cement giant LafargeHolcim (HCMLY.PK, HCMLF.PK), formed by the combination of French Lafarge and Swiss peer Holcim, Wednesday said its sales declined for the third quarter as well as nine months.
comments powered by Disqus
Trade QIHU now with 
Follow RTT