Qihoo 360: Operating Revenue Up 200% YoY in Q1, Net Profit USD 14.07 Mn

Source: Company Disclosure, ChinaScope Financial (Data)

+       Qihoo 360 Technology Co., Ltd. (NYSE: QIHU) released their unaudited financial statement on May 22, showing revenues of USD 69.28 million in 2012Q1, up 202.1% compared with USD 22.93 million in 2011Q1. Meanwhile, the company’s net profit was USD 14.07 million in 2012Q1, compared with a loss of USD 21.45 million in 2011Q1.

+       In March 2012, market penetration was 62% and the number of active users of 360 products reached a record high of 411 million, including 273 million 360 browser users.

Qihoo’s revenue is quickly growing; margin ratios remain stable.

With high penetration levels, MAUs of the 360 browser, as well as in aggregate, has reached a steady stage. However, average daily unique visitor of the 360 start-up page still have room for growth.

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