Results 360 MAO again! Revenue increased 108% year-on-year net profit year-on-year increase of 372%

qihoo 360 today released the unaudited earnings in the second quarter. Results show that the second quarter qihoo 360 revenue of $152 million, up 108%; Net profit of $33 million, up 372% from a year earlier.

second quarter financial main points are as follows:

— on revenue of $151.7 million, $2012 in the second quarter of 2012 increased by 108%.

– vest in qihoo 360 net income of $33 million, $2012 in the second quarter of 2012 increased by 372%.

– regardless of the equity incentive spending non – GAAP (us GAAP) net profit was $51 million, $2012 in the second quarter of 2012 increased by 147%.

– relegated to qihoo 360 per ADS (American depositary shares, diluted earnings of $0.26 a year earlier to $0.06.

– vest in qihoo 360 non – GAAP ADS diluted earnings of $0.40 per share, a year earlier to $0.17.

operating indicators are as follows:

– June 2013, qihoo 360 PC products and services on the total number of active users reached 461 million, in June 2012 to 425 million.

– June 2013, qihoo 360 PC products user permeability was 96%, 94% in June, 2012.

– June 2013, the main mobile security qihoo 360 product of the total number of smartphone users reached 338 million, in June 2012 to 120 million.

– June 2013, the browser qihoo 360 monthly active users up to 330 million, in June 2012 to 272 million.

– June 2013, qihoo 360 browser users permeability of 69%, 61% in June, 2012.

– 2013 in the second quarter, qihoo 360 personalized start page and its children, independent user visits to an average of 114 million pages, 2012 in the second quarter of 83 million.

– 2013 in the second quarter, qihoo 360 personalized start page and its child pages of average daily traffic of about 590 million, 2012 in the second quarter of 368 million.

Detailed performance

sales

on revenue of $151.7 million and $2012 in the second quarter of 2012 increased by 108%, compared with 38% growth in the first quarter of $2013 in 109.9 million. Strong revenue growth and annulus compared from Internet advertising and Internet value-added service performance, power comes from users and traffic continued strong growth, as well as personalized start page based on the effect of advertising. In addition, the better-than-expected search and mobile commercial also provides more momentum.

online advertising revenue was $90.6 million, up 78% from a year earlier, compared with 43% last quarter. Strong year-on-year growth is mainly derived from the 360 personalized start page the user behavior of the commercialization of the measures to overweight. Strong year-on-year growth to a certain extent from search commercial overweight.

is given priority to with gaming platform of Internet value-added services for $60.9 million, up 181% from a year earlier, compared with the previous quarter growth of 33%. Strong year-on-year growth to a certain extent from strong mobile games, but the web game seasonally weak limits the maximum rose.

main business cost

main business costs $17.8 million, 2012 in the second quarter was $6.6 million, a quarter of $13.9 million, and the annulus compared the growth rate of 169% and 28% respectively.

operating expenses

operating costs $93.2 million, higher than the same period in 2012 of $56.4 million and $2013 in the first quarter of 2013. Not including stock salary (us gaap), operating costs $79.3 million and $2012 higher than the same period in 2012, and $2013 in the first quarter of 2013.

the operating costs of us gaap year-on-year growth is mainly due to the marketing cost, manpower cost, bandwidth cost and equipment amortization cost growth. Qihoo still in strengthening technology and product development capabilities, and the mobile Internet and search the brand. From small growth is largely due to the growth of the human cost, but lower marketing costs offset part.

operating profit

operating profit of $36.6 million, higher than the same period in 2012 of $9.9 million and $2013 in the first quarter of 2013.

not including stock salary (us gaap), operating profit of $54.5 million, higher than the same period in 2012 of $23.6 million and $18.8 million in the first quarter of 2013.

operating margins of 24.1%, up from 13.6% in the same period in 2012 and 6.2% in the first quarter of 2013.

not including stock salary (us gaap), operating margins of 36.0%, up from 32.4% in the same period in 2012 and 17.1% in the first quarter of 2013.

the us gaap operating margins of the year-on-year and sequential growth is mainly due to the strong revenue growth, while qihoo continues to invest in new products and new business activities.

net profit attributable to qihoo

belongs to qihoo’s net profit of $33 million, higher than the same period in 2012 of $7 million and $2013 in the first quarter of 2013.

not including stock salary (us gaap), belongs to qihoo’s net profit of $51 million, higher than the same period in 2012 of $20.6 million and $17.5 million in the first quarter of 2013.

net margin

qihoo 360 net profit margin of 21.8% in the second quarter, up from 9.6% a year ago, last quarter was 5.1%.

is not included in the equity incentive spending (not in accordance with us gaap), qihoo 360 net profit margin of 33.6% in the second quarter, up from 28.4% a year ago, last quarter was 15.9%. Do not count towards the equity incentive spending (not in accordance with us gaap), qihoo 360 with annulus compared to the second quarter net profit margin, is mainly due to the strong revenue growth.

American depositary receipts diluted earnings per share

qihoo 360 American depositary receipts diluted in the second quarter earnings per share of $0.26. Not included in the equity incentive spending (not in accordance with us gaap), qihoo 360 American depositary receipts diluted in the second quarter earnings per share of $0.40. According to us gaap and is not in accordance with us gaap, qihoo 360 is used to calculate American depositary receipts diluted earnings per share of total weighted average American depositary receipts for 127.6 million shares.

cash flow and cash balance

qihoo 360 second quarter net cash flow from operations was $86.4 million, compared with the same period last year to $18.1 million, $27.9 million the previous quarter. As of June 30, 2013, qihoo 360 holdings of cash and cash equivalents totaled $378 million.

forecast

qihoo 360, expects the third quarter of fiscal 2013 revenue of $181 million to $183 million, up 115% to 118%, year-on-year growth of 19% to 21%. The estimate to reflect the company’s current and preliminary forecast, the future may be adjusted.

executive comments

qihoo 360, chairman and CEO Zhou Hongyi said: “we are very pleased to announce this quarter’s revenue and profit margins are record results were obtained. This quarter, our main business continued to maintain the industry leading position. The PC security products covered nearly 95% of Internet users group, market penetration of mobile phone security products reached 70%. Browser in the PC 360 monthly active users in the current quarter reached $330 million, almost covers about 70% of PC users. We are on the android platform’s app store, 360 mobile phone assistant market leading position has been further strengthened. In general, with the advantage of PC to continue, we for the quarter in the high speed development of progress in the field of mobile Internet very happy. “

zhou continue added: “in this quarter, 360 search also very good success, working towards our goal at the end of smoothly. We believe that continue to ascend as the product experience and technical innovation, 360 search can become the important part of the search market in China, and promote competitive environment to improve the whole industry. Although the 360 search of commercialization has just started a few months, but we have already seen encouraging progress. We will continue to push and conscientiously implement the strategic plan of company’s business development, we believe that the commercialization of the search and mobile platforms will support and promote the long-term and sustainable development of the company.”

qihoo 360 President Mr Qi said: “this quarter, our main business has obtained the good result again. Further by commercialization company as a whole, as well as search and mobile platforms, driven by rapid expansion of our business online advertising business has achieved 78% year-on-year growth. Internet value-added service in hand swim high growth also led by made a year-on-year growth of 181%, far beyond industry performance. As the business continues to develop, we believe that the growth in the first half of 2013 will be continued in the second half. Next, the company will continue to strengthen the investment in product and technology research and development, especially in the field of great potential for wireless Internet and search, continue to strengthen our leading edge, and further expand their business. At the same time, in order to coordinate the process of commercialization, we continue to establish and perfect its own sales and marketing system. We believe that these inputs will be for the company to lay a solid foundation for sustainable development, to create long-term value for shareholders.”

phone meeting

after the earnings release, qihoo 360 will be held in the eastern United States management time on August 26, early at 7:30 7:30 PM (Beijing time on August 26) conference calls, interpreting results points and answer questions, an analyst at back.

to listen to telephone conference qihoo 360, U.S. investors can make free calls + 1, 866-519-4004, international investors can call + 65-6723-9381, and China’s Hong Kong investors may call + 852-2475-0994, password are “QIHU”.

after the conference call, in the eastern United States time on August 26, 08:30 to eastern time on September 3, between 09:30, U.S. investors can call + 1, 646-254-3697, international investors can call + 199 199-0299, listen to qihoo 360 conference call recording, the password is “31866926”.

in addition, investors also can be found at qihoo http://corp.360.cn investor relations channel, listen to the webcast the conference call. (the woodcutter qiu yue qing Chen)

source: sina science and technology