Qihoo 360 Q1 Profit Rises

(RTTNews) - Qihoo 360 Technology Co. Ltd. (QIHU), Tuesday reported first-quarter profit of $49.1 million or $0.25 per share, up from $5.6 million or $0.03 per share last year.

Excluding items, adjusted earnings for the quarter rose to $0.54 per share from $0.14 per share last year. On average, 12 analysts polled by Thomson Reuters expected earnings of $0.34 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter surged to $265.1 million from $109.9 million last year. Analysts estimated revenues of $228.2 million for the quarter.

Looking forward to the second quarter, the company expects revenues to be between $300 million and $305 million. Analysts currently estimate revenues of $270.18 million for the quarter.