Qihoo Beats EPS Estimates for Q4

By Eric Volkman – Mar 5, 2013 at 8:20PM

NYSE: QIHU.DL

Qihoo 360 Technology Co. Ltd.

The Chinese internet and software concern posts a better-than-expected profit in its most recent quarter, and lifts its forward sales guidance.

Qihoo (QIHU.DL) has reported encouraging numbers in its Q4 and 2012 results. For the quarter, revenues were $103 million, or 65% higher than the $62 million of the same period the previous year. Attributable net income came in at $26.7 million ($0.22 per diluted share), a 10% gain over Q4 2011's figure of $24.3 million ($0.20).

That was good enough to beat analyst expectations, which were for $94 million in revenue and $0.17 EPS.

For the full year, top line was $329 million, nearly double the 2011 figure of $168 million. Net income landed at $97 million ($0.80 per diluted share) for the year against 2011's $64 million ($0.55).

Qihoo also provided forward guidance. The company expects revenue for the current quarter to be $104.5 million-$106.5 million. It did not release profit estimates.

Fool contributor Eric Volkman and The Motley Fool have no position in Qihoo. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.