Qihoo 360 Technology Co. Ltd. Crushes Wall Street Estimates; Shares Rise 5%

Shares of Chinese network security expert Qihoo 360 Technology raced 5% higher in after-hours action, as the company smashed analyst targets in the first quarter.

May 27, 2014 at 6:53PM
Qihu Logo

Source: Qihoo 360 Technology.

China-based network security expert Qihoo 360 Technology (NYSE:QIHU) just reported preliminary, unaudited results for the first quarter of fiscal year 2014. Following the report, Qihoo shares rose more than 5% in after-hours trading.

Analysts were looking for non-GAAP earnings of $0.34 per American depositary share on $228 million in sales. The company delivered $0.54 of earnings per ADS on $265 million in sales, leaving both analyst targets far behind. These results amount to a 141% year-over-year revenue increase, and year-ago earnings stopped at $0.14 per ADS.

The number of PC-based Qihoo users increased 5% year over year, while smartphone customers nearly doubled. Mobile users now account for the lion's share of Qihoo's total customer base. Daily clicks on 360.cn, Qihoo's Web-based security suite, increased by 58% overall.

"While we maintained our leadership position in key PC-related product categories, we continued to make significant progress in the ever more-important mobile Internet market," Qihoo CEO Hongyi Zhou said in a prepared statement. "We intend to continue to allocate significant resources to the fast-growing mobile Internet market for the foreseeable future."

"While search and mobile monetization are still in their early stages, they are ramping up faster than expected, and are poised to become key drivers of our future growth," added Qihoo president Xiangdong Qi.

For the second quarter, Qihoo expects sales to double year-over-year to at least $300 million. The Street view for this period sits at $270 million.

Discover a top stock pick for 2014
Every year, The Motley Fool's chief investment officer hand-picks 1 stock with outstanding potential. Just click here to download your free copy of "The Motley Fool's Top Stock for 2014" today.

Anders Bylund and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days.

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.

Money to your ears - A great FREE investing resource for you

The best way to get your regular dose of market and money insights is our suite of free podcasts ... what we like to think of as “binge-worthy finance.”

Feb 1, 2016 at 5:03PM

Whether we're in the midst of earnings season or riding out the market's lulls, you want to know the best strategies for your money.

And you'll want to go beyond the hype of screaming TV personalities, fear-mongering ads, and "analysis" from people who might have your email address ... but no track record of success.

In short, you want a voice of reason you can count on.

A 2015 Business Insider article titled, "11 websites to bookmark if you want to get rich," rated The Motley Fool as the #1 place online to get smarter about investing.

And one of the easiest, most enjoyable, most valuable ways to get your regular dose of market and money insights is our suite of free podcasts ... what we like to think of as "binge-worthy finance."

Whether you make it part of your daily commute or you save up and listen to a handful of episodes for your 50-mile bike rides or long soaks in a bubble bath (or both!), the podcasts make sense of your money.

And unlike so many who want to make the subjects of personal finance and investing complicated and scary, our podcasts are clear, insightful, and (yes, it's true) fun.

Our free suite of podcasts

Motley Fool Money features a team of our analysts discussing the week's top business and investing stories, interviews, and an inside look at the stocks on our radar. The show is also heard weekly on dozens of radio stations across the country.

The hosts of Motley Fool Answers challenge the conventional wisdom on life's biggest financial issues to reveal what you really need to know to make smart money moves.

David Gardner, co-founder of The Motley Fool, is among the most respected and trusted sources on investing. And he's the host of Rule Breaker Investing, in which he shares his insights into today's most innovative and disruptive companies ... and how to profit from them.

Market Foolery is our daily look at stocks in the news, as well as the top business and investing stories.

And Industry Focus offers a deeper dive into a specific industry and the stories making headlines. Healthcare, technology, energy, consumer goods, and other industries take turns in the spotlight.

They're all informative, entertaining, and eminently listenable. Rule Breaker Investing and Answers are timeless, so it's worth going back to and listening from the very start; the other three are focused more on today's events, so listen to the most recent first.

All are available for free at www.fool.com/podcasts.

If you're looking for a friendly voice ... with great advice on how to make the most of your money ... from a business with a lengthy track record of success ... in clear, compelling language ... I encourage you to give a listen to our free podcasts.

Head to www.fool.com/podcasts, give them a spin, and you can subscribe there (at iTunes, Stitcher, or our other partners) if you want to receive them regularly.

It's money to your ears.

 


Compare Brokers