Qihoo 360 Technology Co. Ltd. (QIHU) reported net income for the first quarter attributable to company of $5.6 million or $0.04 per ADS, compared to $14.1 million or $0.12 per ADS for the year-ago quarter.
Net income excluding share-based compensation was $17.5 million or $0.14 per ADS for the latest first quarter, compared to $25.7 million or $0.21 per ADS in the prior year quarter.
Revenues for the latest first quarter rose 58.6% to $109.9 million from $69.3 million a year ago, mainly due to continued momentum in both online advertising and Internet value-added services.
Analsts polled by Thomson Reuters expected the company to earn $0.14 per ADS on revenue of $106.30 million for the first quarter. Analysts' estimates typically exclude special items.
Looking forward, the company forecast second quarter revenue to be between $142 million and $144 million, representing a year-over-year increase of 95% to 98%.
Analysts currently expect the company to post revenue of $121.47 million for the second quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.