Qihoo Profit Trumps Estimates

(RTTNews) - Qihoo 360 Technology Co Ltd (QIHU), the Chinese Internet company, on Tuesday reported second-quarter net earnings of $81.4 million or $0.62 per American depositary share compared with $39.1 million or $0.30 per share last year.

Excluding items, adjusted earnings for the quarter were $0.82 per share compared with $0.50 per share a year ago.

Revenues for the quarter were $438.3 million, a 37.9% increase from $317.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.72 per share on revenues of $438.5 million for the quarter. Analysts' estimates typically exclude special items.

Total monthly active users of Qihoo 360's PC-based products and services reached 514 million in June 2015 compared with 496 million last year.