Qihoo 360 Q3 Results Top Estimates; Sees Q4 Revenue Above Consensus

(RTTNews) - Qihoo 360 Technology Co. Ltd. (QIHU) reported net income for the third quarter of $57.7 million or $0.44 per ADS, compared to $44.5 million or $0.35 per ADS for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $89.5 million or $0.63 per ADS, compared to $61.5 million or $0.47 per ADS in the prior year quarter.

Revenues for the third quarter jumped 100.3% to $376.4 million from $187.9 million in the third quarter of last year.

Analysts polled by Thomson Reuters expected the company to earn $0.61 per ADS on revenue of $365.35 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts fourth revenues of $410 million and $415 million, representing a year-over-year increase of 85% to 87%. Analysts currently expect the company to post revenue of $405.08 million for the fourth quarter.