Qihoo 360 Q3 2012 Profit Up 18% YoY
Qihoo 360, 11/19/12
Chinese Internet services and security software provider Qihoo 360 (NYSE: QIHU) has announced its financial results for the three months ended September 30, 2012. Q3 2012 revenue was USD 84.0 mln, representing an increase of 77.0% YoY from USD 47.5 mln in the third quarter of 2011 and an increase of 15.5% QoQ from USD 72.8 mln in the second quarter of 2012.
Net income attributable to Qihoo 360 was USD 12.9 mln, up 18.3% YoY from USD 10.9 mln in the third quarter of 2011 and up 84.3% QoQ from USD 7.0 mln in the prior quarter.
Online advertising revenues were USD 58.4 mln, up 66.5% YoY and 14.8% QoQ. The growth was primarily driven by further market penetration of the company's key products, such as the 360 browsers and Personalized Start-up Pages, and increased user activity, somewhat offset by a subdued macro economy.
Internet value-added service revenues, which are mainly derived from web game operations, were USD 25.5 mln, up 110.8% YoY from the same period last year and 17.8% QoQ. The strong YoY and sequential growth was mainly driven by growth of the company's paying user base.
Total monthly active users of Qihoo 360's products and services reached 442 mln in September 2012, compared to 370 mln in September 2011.
User penetration of Qihoo 360's products was 95% in September 2012, compared to 89% in September 2011.
Total smartphone users of Qihoo 360's mobile security products reached approximately 149 mln in September 2012.
Monthly active users of Qihoo 360's browsers reached 303 mln in September 2012, as compared to 235 mln in September 2011.
User penetration of Qihoo 360's browsers was 65% in September 2012, as compared to 57% in September 2011.
Average daily unique visitors to the 360 Personal Start-up Page and its sub-pages were 89 mln in the third quarter of 2012, as compared to 55 mln in the third quarter of 2011.
Average daily clicks on Qihoo 360's Personal Start-up Page and its sub-pages were approximately 451 mln in the third quarter of 2012, as compared to 185 mln in the third quarter of 2011.
Paying users of Qihoo 360's game platform were approximately 182,000 in September 2012, as compared to 148,000 in June 2012.
For the fourth quarter of 2012, the company expects revenues to be between USD 93 mln and USD 94 mln, representing a YoY increase of 49% to 51%. For the full year 2012, the company expects revenues to be between USD 319 mln and USD 320 mln, representing a YoY increase of approximately 90%.
To view the complete report please see here.
Keywords: wireless browser Internet profit revenue security users online advertising 360.cn active users Qihoo 360 QIHU Q3 2012 fiscal report IVAS online gaming online web directory mobile security
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