CNZZ: Qihoo's search share tops 30%, Baidu's drops below 55%


Ahead of Qihoo's (NYSE:QIHU) Q2 report (due Monday morning), CNZZ estimates Qihoo now has 30.2% of the Chinese search market in terms of page views. That's up sharply from the 16.3% it had a year ago, and suggests Qihoo may have already reached its 30% year-end target.

Baidu's (NASDAQ:BIDU) share is pegged at 54.5%, down from 67.7% a year ago. Sohu's (NASDAQ:SOHU) Sogou unit is assigned a 12.8% share, up from 9.7% a year ago.

Two caveats: 1) iResearch has provided higher search share figures for Baidu, and lower ones for Qihoo, than CNZZ. The firm has argued CNZZ's figures paint an incomplete picture due to a heavy reliance on small/medium-sized sites for data. 2) Qihoo's mobile search position is weaker than its PC search position. Baidu, meanwhile, just topped 500M monthly mobile search users.

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Comments (13)
  • Mark Krieger
    , contributor
    Comments (6142) | Send Message
     
    now I know why BIDU was in the red today!
    22 Aug 2014, 08:38 PM Reply Like
  • Juan Gutierrez
    , contributor
    Comments (23) | Send Message
     
    Bidu long
    22 Aug 2014, 11:00 PM Reply Like
  • mstar991
    , contributor
    Comments (76) | Send Message
     
    i like both
    23 Aug 2014, 04:49 AM Reply Like
  • Michael Bryant
    , contributor
    Comments (6759) | Send Message
     
    So did (NASDAQ:BIDU) lose viewers? With the growth of the Chinese population, a decrease in market share doesn't necessarily mean a decrease in viewers.

     

    Will (NYSE:QIHU) be the next (BIDU)?
    23 Aug 2014, 08:52 AM Reply Like
  • David RG
    , contributor
    Comments (2822) | Send Message
     
    Bidu is not losing share. CNZZ is not accurate and all independent research has BIDU gaining share when you include mobile, where all the growth is currently happening.

     

    if you don't like the independent research, just use common sense. BIDU's revenue last quarter was $2 billion, almost all of it search. Qihoo's revenue last quarter in search was $265 million and search revenue was $40 million.

     

    So according to CNZZ, their page view share is 65% of Baidu, but revenue is 2%??? Truth is their market share is closer to 15% and Baidu is at 75% of all search.

     

    That does not mean they can't be a great investment, just that this CNZZ nonsense gets far too much coverage.
    23 Aug 2014, 05:08 PM Reply Like
  • Eric Jhonsa
    , contributor
    Comments (1276) | Send Message
     
    It's possible CNZZ's numbers are off a bit, particularly when it comes to mobile, where tracking can be tough. But I don't think ad revenue is a good proxy for query/page view market share.

     

    As Google's search revenue relative to Yahoo and Bing shows, the market leader will have an outsized revenue share. Both because more advertisers flock to it, and keyword bidding is more competitive.

     

    Also, Qihoo just began monetizing their search platform last year. They're still in the midst of fleshing out their ad salesforce.
    23 Aug 2014, 07:53 PM Reply Like
  • David RG
    , contributor
    Comments (2822) | Send Message
     
    Agree on all points, but it is 50:1, not 10:1 or 5:1 in ratio terms. If advertisers really believed they could get 1/2 the reach for a fraction of the cost, they would be beating down Qihoo's door.
    25 Aug 2014, 01:32 PM Reply Like
  • David RG
    , contributor
    Comments (2822) | Send Message
     
    Should have posted the Enfodesk links as well:

     

    Baidu mobile search share at 75%:
    http://bit.ly/1tUPzeO

     

    Baidu 70% and Qihoo360 16% overall
    http://bit.ly/VOAuzq

     

    Who is correct? We don't know, but the Enfodesk data makes more sense given the factual data we do have - actual revenue from search.
    25 Aug 2014, 06:37 PM Reply Like
  • efactor
    , contributor
    Comments (657) | Send Message
     
    QIHU has provided earnings surprises of:

     

    Jun 2013- 53.80%

     

    Sep 2013- 27.00%

     

    Dec 2013- 62.80%

     

    Mar 2014- 58.80%

     

    Here is the earnings whisper: http://bit.ly/1pqwSjn
    23 Aug 2014, 01:36 PM Reply Like
  • efactor
    , contributor
    Comments (657) | Send Message
     
    Corrected earnings surprise history here: http://bit.ly/1pqBupF
    23 Aug 2014, 02:00 PM Reply Like
  • SpoiledRottenBrat
    , contributor
    Comments (1342) | Send Message
     
    BIdU registered in the Cayman Islands. Guess it has something to do with tax avoidance.
    23 Aug 2014, 03:57 PM Reply Like
  • SpoiledRottenBrat
    , contributor
    Comments (1342) | Send Message
     
    Lot of smart money in the Caymans.. http://on-msn.com/YOiibg

     

    Goldman Sachs has $1.5 Trillion under management worldwide and are domiciled in many tax havens.
    http://bit.ly/1qgfLSj

     

    http://bit.ly/1wjnYp5
    23 Aug 2014, 05:05 PM Reply Like
  • JoshE
    , contributor
    Comments (87) | Send Message
     
    "The firm has argued CNZZ's figures paint an incomplete picture due to a heavy reliance on small/medium-sized sites for data. 2) Qihoo's mobile search position is weaker than its PC search position. Baidu, meanwhile, just topped 500M monthly mobile search users."

     

    Given Qihoo's history, would anyone be surprised if we find out a few months from now that they're illicitly juicing their figures? Not a programmer, though...so I don't know how possible that might be. :-)

     

    In any case, mobile is the future. Plenty of room for both QIHOO and Baidu to thrive, assuming Qihoo is actually thriving. Can't bring myself to invest in a company that got itself off the ground by lying to its customers, though it's entirely possible they've turned things around.
    23 Aug 2014, 05:02 PM Reply Like
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