Qihoo 360 Technology Co. Ltd. (QIHU) reported net income for the fourth quarter attributable to ordinary shareholders of $12.9 million or $0.11 per ADS, compared to $15.0 million or $0.13 per ADS for the year-ago quarter.
Net income excluding share-based compensation was $24.2 million or $0.20 per ADS for the latest fourth quarter, compared to $24.3 million or $0.20 per ADS in the prior year quarter.
Revenues for the latest fourth quarter rose 65% to $102.95 million from $62.32 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 $0.17 per ADS on revenue of $93.68 million for the fourth quarter. Analysts' estimates typically exclude special items.
Looking forward, the company forecast first quarter revenue to be between $104.5 million and $106.5 million, representing a year-over-year increase of 50.8% - 53.7%.
Analysts currently expect the company to post revenue of $92.70 million for the first quarter.
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