Qihoo 360 Technology (QIHU) shares fell about 1% on Friday after the Chinese Internet company’s executives said they haven’t yet made money from growing mobile search traffic. “In terms of mobile search, no, I don’t think at this point we have any revenue from mobile search,” co-CFO Zuoli Xu told analysts on a late conference call. The Beijing company topped Wall Street’s Q4 forecast with sales up 115% to $221.6 million against views of $209.7
Chinese Internet company Qihoo 360 Technology trampled Wall Street’s Q4 forecast, posting a big profit gain even as it spends heavily in its battle against Baidu. It also guided for higher-than-expected Q1 sales. Qihoo 360 Technology (QIHU) revenue jumped 115% to $221.6 million vs. views of $209.7 million. EPS ex items climbed 218% to 70 cents. Analysts expected 43 cents, Thomson Reuters said. Qihoo stock fell about 1% in late
Chinese security and search firm Qihoo 360 Technology (QIHU) on Thursday is expected to report doubled Q4 sales on strong momentum from mobile gaming. “As a leading mobile-game platform, we believe Qihoo is well-positioned to enjoy robust growth in the mobile game industry,” wrote T.H. Capital analyst Tian X. Hou, who rates the stock as a buy with a price target at 123. Analysts expect Qihoo’s Q4 sales to climb 104% to $209.7 million from $103