Qihoo 360: On The Fast Lane To Growth

Qihoo 360 (QIHU), provider of online services and consisting of advertising services, announced its Q2 2013 results yesterday morning. The company reported a record quarter and its search service so.com seems to be giving Baidu (BIDU) a run for its money as the Chinese internet search industry becomes more competitive.

Qihoo 360 reported a 108% revenue increase accompanied by an earnings jump of 135% on a YoY basis.  While the company is slowly but steadily pushing its cause in the search market, the company holds a competitive edge over rivals Baidu and Sina Corp (SINA) due to its presence in the online gaming space. The company reported close to 40% of its revenues from mobile services, a segment which is experiencing a huge growth in China. As per the company statement, this segment will see increased focus in order to drive future growth at the company. The Qihoo stock price closed 7.75% higher in the regular trading session yesterday following the earnings announcement.

Qihoo stock price Vs Baidu stock price

Qihoo stock Vs Baidu stock
Source: Qihoo stock price Vs Baidu stock price by Amigobulls

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Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice. Buying and selling of securities carries the risk of monetary losses. Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions. Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

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Comments on this article and QIHU stock

WW Evans
The stock seems very expensive given a trailing P/E of 250x. Although, I believe Qihoo would be able to cope up with a long-term PEG rate of 1x, the extra-ordinary growth rate looks a bit scary as of today.
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