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What: Shares of Chinese Internet player Qihoo 360
So what: Second-quarter revenue more than doubled to $72.8 million, and adjusted non-GAAP net income also posted a healthy jump to $20.6 million, or $0.17 per share. In the coming quarter, Qihoo 360 forecasts sales between $81 million and $82 million, which would be an increase of between 71% and 73% over last year, and is also higher than the Street forecast of $80.3 million.
Now what: On top of that, Qihoo 360 just launched its own search engine in a bid to challenge dominant Chinese search engine Baidu
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Fool contributor Evan Niu owns shares of Baidu.com, but he holds no other position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of Google and Baidu.com. Motley Fool newsletter services have recommended buying shares of Baidu.com and Google. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.