Shares of Qihoo (QIHU), China’s No. 1 Internet security provider, fell Tuesday after the company received a downgrade from Credit Suisse, which said that intensifying competition could “drag down” Qihoo’s flagship mobile security business. The downgrade comes a day after Qihoo, also China’s No. 2 search provider, posted Q2 earnings that beat Wall Street expectations but said that higher spending had hurt profit margins. Qihoo stock was down 2% in
As sizzling competition roils China’s huge Internet market, Qihoo 360 Technology plans to continue to expand its mobile search service and introduce next-generation security products while also throttling back its spending growth rate. Qihoo (QIHU), China’s largest Internet security provider and its No. 2 search provider behind Baidu (BIDU), early Monday posted Q2 earnings that beat expectations but added that its operating profit margin fell due
Shares for Qihoo 360 Technology (QIHU), China’s No. 2 search provider, fell Monday after the company reported Q2 operating profit margins that were lower due to increased spending. QIHU stock was down 8.3% in afternoon trading in the stock market today, near 93. Qihoo stock is down 23% from its all-time closing high of 120.79 in early March. Early Monday, Qihoo said its non-GAAP operating expenses jumped 114% to $208.3 million. The company