Qihoo Profit Tops Estimates

(RTTNews) - Qihoo 360 Technology Co Ltd (QIHU), the Chinese Internet company, on Tuesday reported first-quarter net earnings of $53 million or $0.41 per American depositary share compared with $49 million or $0.37 per share last year.

Excluding items, adjusted earnings for the quarter were $0.57 per share compared with $0.54 per share a year ago.

Revenues for the quarter were $384.4 million compared with $265.1 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.49 per share on revenues of $378.1 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company expects revenues of $435 million to $445 million, while analysts expect $437.2 million.