July 28, 2014 3:37 PM ET

Internet Software and Services

Company Overview of Qihoo 360 Technology Co. Ltd.

Company Overview

Qihoo 360 Technology Co. Ltd. provides Internet and mobile security products and services in the People's Republic of China. Its core Internet security products include 360 Safe Guard, a solution for Internet security and system optimization; 360 Anti-Virus, an anti-virus application that uses multiple scan engines to protect users’ computers against various kinds of malware, as well as 360 Mobile Safe, a security program for the Google Android, Apple iOS, and Windows smartphone operating systems. The company’s platform products comprise 360 Safe Browser and 360 Speed Browser, which are based on dual-core technologies providing secure browsing and blocking malicious Websites, indentifying th...

Building No. 2

No. 6 Jiuxianqiao Road

Chaoyang District

Beijing,  100015

China

Founded in 2005

4,187 Employees

Phone:

86 10 5878 1000

Fax:

86 10 5682 2000

Key Executives for Qihoo 360 Technology Co. Ltd.

Qihoo 360 Technology Co. Ltd. does not have any Key Executives recorded.

Qihoo 360 Technology Co. Ltd. Key Developments

Qihoo 360 Unveils 360 Browser Update with New Features

Qihoo 360 launched a fresh update for its 360 Browser with two new features, File Download Scanner and World Cup 2014 Promotion. With this update, 360 Browser hopes to bring users a combination of enhanced Internet security and lifestyle features. With File Download Scanner enabled, users are able to scan downloaded files with 360 Browser's security engine. File Download Scanner utilizes Qihoo 360's renowned cloud-based antivirus engine that preemptively identifies malicious files before they can cause irreparable damage to users computers. With the new update, users are now able to choose football-related themes to show their love and excitement for the impending competition. In addition, 360 Brower's 'My World Cup' section on the navigation page contains all the latest football news and highlight videos for users to enjoy.

Qihoo 360 Launches Independent Search APP, 360 Search

On June 3, 2014 Qihoo 360 announced the launch of independent mobile search APP, 360 search, thus to speed up the 360 mobile search strategy. This APP takes full consideration of the application scenario and use habit of mobile users, features itself with being simple and quick, direct access to contents and applications and other characteristics, adds voice input icon and other quick search functions and enables users to achieve at-any-time call-out and search without opening the browser and other pages.

Qihoo 360 Technology Co. Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014 and Operating Results for the Month and First Quarter Ended March 31, 2014; Provides Revenue Guidance for the Second Quarter of 2014

Qihoo 360 Technology Co. Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014 and operating results for the month and first quarter ended March 31, 2014. Revenues were $265.1 million, representing an increase of 141.3% from $109.9 million in the first quarter of 2013 and an increase of 19.6% from $221.6 million in the fourth quarter of 2013. The year-over-year growth was due to strong performance in both online advertising and Internet value-added services, driven by solid ramp in search and mobile monetization, as well as strong user traffic growth and further penetration of performance based advertising on 360 Personal Startup Page. Operating income was $39.6 million, compared to $6.8 million in the first quarter of 2013 and operating income of $8.9 million in the prior quarter. Non-GAAP operating income was $59.5 million, compared to $18.8 million in the first quarter of 2013 and $84.2 million in the prior quarter. Net income attributable to the company was $49.1 million, compared to $5.6 million in the first quarter of 2013 and $16.7 million in the prior quarter. Non-GAAP net income attributable to the company was $73.3 million, compared to $17.5 million in the first quarter of 2013 and $96.3 million in the prior quarter. Diluted EPADS for the first quarter of 2014 was $0.37, and non-GAAP diluted EPADS for the first quarter of 2014 was $0.54. Net cash generated from operations in the first quarter of 2014 was $100.5 million, compared to net cash outflow of $27.9 million in the same period last year and net operating cash inflow of $76.8 million in the prior quarter. Cash capital expenditures were $69.5 million. Income before income tax expense and loss from equity method investments was $55.8 million against $24.4 million a year ago. Net income per diluted ordinary share was $0.25 against $0.08 a year ago. Diluted earnings per ADS were $0.37 against $0.14 a year ago. Non-GAAP diluted earnings per ADS were $0.54 against $0.14 a year ago. For the second quarter of 2014, the company expects revenues to be between $300 million and $305 million, representing a year-over-year increase of 98% to 101% and quarter-over-quarter increase of 13% to 15%. These estimates reflect the company's current and preliminary view, which is subject to possible material changes. Total monthly active users of the company's PC-based products and services reached a record 479 million in March 2014, compared to 457 million in March 2013. User penetration of the company's PC-based products was 93.3% in March 2014, compared to 95.8% in March 2013. Total Smartphone users of the company's primary mobile security product reached a record 538 million in March 2014, compared to 275 million in March 2013. Monthly active users of the company's PC browsers were 339 million in March 2014, compared to 332 million in March 2013. User penetration of the company's PC browsers was 66.1% in March 2014, compared to 69.6% in March 2013. Average daily unique visitors to the 360 personal start-up page and its sub-pages were 122 million in the first quarter of 2014, compared to 94 million in the first quarter of 2013. Average daily clicks on the company's personal start-up page and its sub-pages were approximately 772 million in the first quarter of 2014, compared to 489 million in the first quarter of 2013.

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