Feb 27 - Qihoo 360 to Enter Search Engine Market

Source: Caijing, ChinaScope Financial (Data)

+       On February 23, Qihoo 360 Technology Co., Ltd. (NYSE: QIHU) released the Q4 and annual reports for 2011. Given the rapid growth in both operating revenue and net profit, Qihoo announced that its focus will shift from video business to vertical search engine.

+       As shown by Qihoo’s financial reports, in the fourth quarter of 2011, the company’s operating revenue was USD 62.32 million, a 214.5% year-on-year growth; net profit was USD 15.03 million, a 274.1% year-on-year increase. Throughout 2011, Qihoo’s operating revenue was USD 168 million, among which USD 123 million was from internet advertising, and USD 43.57 million was from internet value added services led by web games; net profit was USD 15.6 million.

Qihoo 360’s market share is increasing after the IPO.

Qihoo 360’s advertising revenue, mainly generated from the browsers’ home page advertisements, has amplified in the past two years.

After claiming significant internet browser market share in China, Qihoo 360 is now eyeing the internet search market dominated by Baidu.

Trading comparables of related companies

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