Qihoo Jumps 5% on Earnings, Analysts See Good Times Ahead (Barrons)
Shares of Qihoo 360 Technology Co Ltd (NYSE:QIHU) have surged this morning after the company reported better-than-forecast first-quarter earnings and revenues. The Chinese internet company also said revenue would be better during the second quarter. …Qihoo 360 Technology Co Ltd (NYSE:QIHU) also said second quarter revenue could be as high as $144 million, well above forecasts for $121.47 million. …Qihoo 360 Technology Co Ltd (NYSE:QIHU)’s search generated ~$6M revenue during the quarter, we estimate majority from sharing ad revenue with Google Inc (NASDAQ:GOOG). Since late last year, management has made major efforts expanding sales force, selling search ads directly or indirectly through agencies and distributors.
Qihoo Sees Record User Numbers (457 Million) But Falling Income in Q1 (Techinasia)
China’s Qihoo 360 Technology Co Ltd (NYSE:QIHU), a software maker and web portal turned search engine, has reported its Q1 2013 financials this morning. The company hailed a record number of users across its services – a total of 457 million active users in March 2013 – but saw mixed financial numbers. Revenues were up slightly quarter-on-quarter to $109.9 million (up 58.6 percent in the past year). Operating income fell to $6.8 million in Q1, nearly half that in the previous quarter (and down from $14.4 million a year ago). Operating expenses crept up yet again to hit $89.2 million in the first quarter, nearly double the expense of Q1 2012.
Qihoo 360 Technology Rating Reiterated by Stifel Nicolaus (QIHU) (UtahPeoplesPost)
Qihoo 360 Technology Co Ltd (NYSE:QIHU)’s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a report released on Monday, ARN reports. They currently have a $49.00 target price on the stock, up from their previous target price of $41.00. The analysts wrote, “Qihoo reported what we view as strong 1Q13 results and more importantly provided revenue guidance that points to accelerating year-over-year revenue growth in 2Q13 ahead of the last three quarters.
How Qihoo 360 Hopes to Beat Baidu (Fool)
Next Monday, Qihoo 360 Technology Co Ltd (NYSE:QIHU) will release its latest quarterly results. The key to making smart investment decisions on stocks reporting earnings is to anticipate how they’ll do before they announce results, leaving you fully prepared to respond quickly to whatever inevitable surprises arise. Qihoo 360 Technology Co Ltd (NYSE:QIHU) has come from being a virtually unknown player in the crowded Chinese Internet space to becoming a serious threat to dominant search provider Baidu.com, Inc. (NASDAQ:BIDU) and its competitors.