QIHOO 360 Technology Co. Ltd. (QIHU) - NYSE
  • Oct. 2, 2014, 9:38 AM
    • Qihoo's (QIHU +4.6%) buyback is good for repurchasing 2.5% of shares at current levels. It arrives with shares having fallen 49% from an all-time high of $124.42.
    • The company notes it had $787M in cash at the end of Q2 (to go with $600M in long-term debt), and has since raised $1B through a convertible offering.
    | Oct. 2, 2014, 9:38 AM
  • Sep. 23, 2014, 5:35 PM
    | Sep. 23, 2014, 5:35 PM
  • Sep. 19, 2014, 12:44 PM
    • Whether it's a case of selling on the news, freeing up capital to buy Alibaba shares, or a mixture of the two, a slew of Chinese Internet stocks are selling off as Alibaba (though off its highs) registers a 30%+ post-IPO gain.
    • Baidu (BIDU -2.2%) and JD.com (JD -4.5%), both of which rallied yesterday, are among the decliners. Others: QIHU -2.7%. SFUN -3%. EJ -2.7%. YY -2.1%. WB -2.3%. WUBA -6.3%. MOBI -6.4%. CMGE -6.5%.
    | Sep. 19, 2014, 12:44 PM | 2 Comments
  • Sep. 15, 2014, 1:21 PM
    • Maybe looking to raise cash with which to buy Alibaba (Pending:BABA) this week, investors are dumping a wide swath of other Chinese internet names.
    • Qihoo (QIHU -2.6%), Sohu.com (SOHU -5.3%), Baidu (BIDU -3.8%), Sina (SINA -4.9%), Renren (RENN -4%), Weibo (WB -11.3%), YY (YY -7.3%).
    • Previously: Alibaba to boost IPO size
    | Sep. 15, 2014, 1:21 PM | 21 Comments
  • Aug. 26, 2014, 10:54 AM
    • Citing soft mobile search traffic and competition, Credit Suisse has downgraded Qihoo (QIHU -2.8%) to Neutral a day after the company sold off due to the margin concerns triggered by its Q2 report.
    • On the CC (transcript), CEO Hongyi Zhou said is "making [a] strategic shift in focus on resources to mobile search," and is aiming for its mobile search share to match its PC share over the long-term.
    • CFO Alex Xu stated mobile now accounts for a "low-teen to mid-teen" percentage of Qihoo's search traffic, up from ~5% at the beginning of 2014, and that the company is aiming to raise this figure to 25% by year's end.
    | Aug. 26, 2014, 10:54 AM
  • Aug. 25, 2014, 1:11 PM
    • Though Qihoo (NYSE:QIHU) beat Q2 estimates and offered above-consensus Q3 sales guidance, its gross margin fell to 79.1% from 79.5% in Q1 and 88.3% a year ago. In addition, opex rose 19% Q/Q and 114% Y/Y to $208.3M on the back of a 254% Y/Y increase in sales/marketing spend.
    • Online ad revenue +22.3% Q/Q and +89% Y/Y to $171.3M thanks to search and mobile ad growth. Internet value-added service revenue +17.2% Q/Q and +140% Y/Y thanks to PC/mobile gaming growth.
    • Total monthly active users of Qihoo's PC products totaled 496M in June, up from 497M in March and 461M a year ago. Smartphone users of Qihoo's 360 Mobile Safe app rose to 641M from 538M in March and 338M a year ago.
    • Daily unique visitors for Qihoo's 360 browser home page grew to 128M in Q2 from 122M in Q1 and 114M a year ago. Average daily clicks for the page grew totaled 749M, up from 590M a year ago but down from 772M in Q1.
    • Citi estimates PC search revenue (boosted by share gains) rose 52% Q/Q to $62M (20% of total revenue), and that mobile revenue rose 16% Q/Q to $68M, with 67% coming from games. At the same time, it expects heavy spend to result in op. margin falling to 25% in 2014 from 34% in 2013.
    • Q2 results, PR
    | Aug. 25, 2014, 1:11 PM
  • Aug. 25, 2014, 12:46 PM
    | Aug. 25, 2014, 12:46 PM
  • Aug. 25, 2014, 9:11 AM
    | Aug. 25, 2014, 9:11 AM | 1 Comment
  • Aug. 24, 2014, 11:11 PM
    • Qihoo 360 (NYSE:QIHU): Q2 EPS of $0.50 beats by $0.04.
    • Revenue of $317.9M (+109.6% Y/Y) beats by $8.5M.
    • Expects Q3 revenue of $360M-$365M (+92%-94% Y/Y), above a $357.4M consensus.
    | Aug. 24, 2014, 11:11 PM | 5 Comments
  • Aug. 24, 2014, 5:30 PM
  • Aug. 22, 2014, 7:03 PM
    • 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.
    | Aug. 22, 2014, 7:03 PM | 13 Comments
  • Aug. 4, 2014, 10:20 AM
    • The Chinese government's procurement agency has warned departments not to use antivirus software from Symantec (SYMC -0.6%) and fellow U.S. supplier Kaspersky Lab.
    • Qihoo (QIHU +3.4%), which has a giant share of the Chinese antivirus software market, is rallying, though it's worth noting several other Chinese tech companies are also doing well.
    • Previously, China's Public Security Ministry had warned Symantec's Data Loss Prevention software had security loopholes that could enable outside access. As in several other regions, NSA-related tensions have been running high in the Middle Kingdom. Local authorities have also launched an anti-monopoly probe against Microsoft.
    • The whole of Asia-Pac accounted for 17% of Symantec's FQ4 revenue. FQ1 results arrive on Wednesday.
    | Aug. 4, 2014, 10:20 AM
  • Jul. 30, 2014, 4:08 PM
    • Qihoo (NYSE:QIHU) is selling $900M worth of convertible senior notes due 2020 and 2021. Underwriters will have a $135M overallotment option.
    • Qihoo sold $550M worth of 2018 convertible notes last year. The company had $901.6M in cash at the end of Q1, and $600M in debt.
    | Jul. 30, 2014, 4:08 PM
  • Jul. 25, 2014, 5:32 PM
    • Goldman has raised its 2014-2016 Baidu (BIDU +10.9%) EPS estimates by 17%-23% following its sizable Q2 EPS beat and above-consensus Q3 guidance, and hiked its target by $35 to $260. BofA/Merrill, Deutsche, and Piper have also raised their Baidu PTs.
    • Goldman was pleased with several datapoints provided in the Q2 report and CC (transcript). Among them: 1) Baidu topped 500M mobile search monthly active users (MAUs) in June. 2) Maps MAUs have passed 200M. 3) Baidu's app distribution platforms (led by 91 Wireless) averaged 130M downloads/day in Q2. 4) The Nuomi daily deals unit (acquired from Renren) has seen its user base double since Q4.
    • BofA/Merrill observes Baidu's aggressive spending growth is now being fueled more by hiring than by marketing spend, something it expects will translate into future leverage. Marketing spend fell to 11.5% of revenue from 14.1% in Q1, while R&D grew to 14.6% from 13.6%.
    • Baidu made fresh highs today, and provided a lift to rivals Qihoo (QIHU +3.7%) and Sohu (SOHU +2.2%) along the way.
    | Jul. 25, 2014, 5:32 PM | 5 Comments
  • Jul. 14, 2014, 5:53 PM
    • With Cheetah Mobile (CMCM -4.5%)  obtaining 82% of its 2013 revenue from ad sales, and 92.6% from PCs, the ongoing shift in Chinese ad spend from PC to mobile "puts it in a tough spot," writes WestEnd511 in a column now out of embargo.
    • The author argues Cheetah's "subscale" position in key markets especially leaves it at a disadvantage relative Qihoo (QIHU +2.1%) and other bigger rivals. Cheetah's mobile security software has an estimated 3% Chinese market penetration vs. 62% for Qihoo's software, 27% for Tencent's, and 18% for Baidu's.
    • On PCs, Cheetah's antivirus software has 25% penetration vs. 92% for Qihoo's product and 23% for Tencent's. Its PC browser share is at just 1.3%, well below Qihoo's 24.6% and Internet Explorer's 48.1%.
    • The author adds Qihoo, Baidu, and Tencent's popular Android app stores give them a distribution edge. A $16 PT is set based on a sum-of-the-parts analysis.
    | Jul. 14, 2014, 5:53 PM | 1 Comment
  • Jun. 11, 2014, 2:39 PM
    • Acquisition-hungry Alibaba (ABABA) is buying the 1/3 of top Chinese mobile browser vendor UCWeb it doesn't yet own for a mixture of cash and stock. The price hasn't been disclosed, but Alibaba claims the deal is the biggest Chinese Web merger in history, exceeding Baidu's (BIDU +0.4%) $1.9B purchase of app store provider 91 Wireless.
    • UCWeb has a 50%+ share of the Chinese mobile browser market, and also has 35% of the Indian market. The company claims 500M total browser users, as well as 50M users for its Android app store, which competes against Baidu and Qihoo's (QIHU +3.8%) popular stores.
    • More importantly for Baidu (and also relevant for Qihoo), UCWeb claims a 20%+ share of the Chinese mobile search market on the back of 100M active users. A mobile search JV was launched with Alibaba in April.
    • Meanwhile, CNBC reports Alibaba will likely file a new F-1 early next week that includes its Q1 results. Odds are Yahoo (YHOO +0.6%), which has been reporting Alibaba's results a quarter in arrears, will move on the numbers.
    • CNBC adds Alibaba is still expected to go public in the first week of August. Bloomberg previously reported Alibaba is eying an Aug. 8 IPO.
    | Jun. 11, 2014, 2:39 PM | 10 Comments
Company Description
Qihoo 360 Technology Co., Ltd. engages in the provision of Internet and mobile security products. Its core Internet and mobile security products include 360 Safe Guard, 360 Anti-Virus, and 360 Mobile Safe. It also develops platform products that include 360 Browsers, 360 Personal Start-Up page,... More
Sector: Technology
Industry: Internet Service Providers
Country: China