Business / Technology

Qihoo 360 Q3 performance beat market estimates

(Xinhua) Updated: 2014-11-25 15:01

NEW YORK - Qihoo 360's third quarter performance beat market expectation with revenues twice the number for the same period last year, according to the company's financial report released Monday.

The New York Stock Exchange listed company doubled its revenues in the third quarter this year to reach $376.4 million, compared to $187.9 million the same period in 2013, beating the market's expectation of $365.35 million.

The Internet company's net income climbed to $57.7 million from $44.5 million in the third quarter last year.

On the mobile services, a record high of 673 million mobile phone users chose the company's mobile security products in September this year, compared to 408 million in September 2013.

Monthly active users of the Internet giant's PC-based products and services jumped to 495 million in September 2014 from 465 million in September 2013.

"Not only did we maintain our leadership position in key PC-related products, we also continued to make a significant transition to the important mobile Internet market," said Zhou Hongyi, chairman and chief executive officer of Qihoo 360.

The company's share gained 0.14 percent to $69.46 on Monday.

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