Nov. 19, 2014, 12:37 PM
- Google (GOOG +0.1%) plans to finally launch the Google Play app store in China, The Information reports. By doing so, Google hopes to grow its mobile clout in a market believed to account for roughly half of Android's 1B+ global users, but in which Google apps/services are often non-existent on Android devices.
- Google famously shut down Google.cn in 2010 rather than continue censoring its search results, but still maintains R&D and ad sales offices in China. In addition, many Chinese developers have published apps on Play's international app stores to reel in non-Chinese users. Apple has had a Chinese App Store in place for years.
- When Play arrives in China, it will face competition from Qihoo (QIHU -2.9%) and Baidu/91 Wireless' well-established Android app stores, as well as from Tencent. Qihoo shares have slumped following The Information's report.
Oct. 17, 2014, 6:39 PM
- Qihoo (NYSE:QIHU) is shooting for a 10% Chinese mobile search share by the end of 2014, and a 30% share within 2 years, says president Qi Xiangdong.
- While Qihoo has been estimated to have a 30%+ PC search share, its mobile search share is much smaller. Baidu is believed to have over half the market, and Alibaba-owned UCWeb has also grown into a major player.
- In August, Qihoo said mobile had grown to account for a "low-teen to mid-teen" % of its search traffic from just 5% at the beginning of the year, and was aiming for 25% by year's end.
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.
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. 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
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. 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, 12:46 PM
Aug. 25, 2014, 9:11 AM
Aug. 24, 2014, 11:11 PM
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. 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.
Jul. 30, 2014, 4:08 PM| Comment!
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.
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