Qihoo 360 Technology Co Ltd (NYSE:QIHU) announced on Q3 profit surged 18 percent as the Chinese Internet firm declared an increasing user base and a increase in revenue.
The firm’s American depositary shares rose 3.8 percent to $24.60 in after-hours trading. Through the close, the equity was increased 51 percent so far this year.
For the present quarter, the firm expects revenue of $93M to $94M, beating the $90M expects from analysts polled by Thomson Reuters.
The firm forecasts for the full year revenue of $319 to $320 million, more than the $315 million forecaster anticipated.
CEO, Hongyi Zhou reported that the firm’s currently released products and services will continue to increase results, despite headwinds in the Chinese economy.
Qihoo 360 Technology Co Ltd (NYSE:QIHU) opened at $23.27 with 119.35 million outstanding shares and touch its highest price of $23.76 of the day and then finished at $23.70 by scoring 3.13%, as in the whole session stocks gain volume of 2.75 million shares which is higher than its average volume.
As the owner ship concerns stock institutional ownership remained 36.59% while insider ownership included 11.16%. The share capital of QIHU has 119.35 million outstanding shares amid them 114.62 million shares have been floated in market.
For investors focus on the performance of the stocks so the QIHU showed weekly ahead performance of 0.04% which was maintained for the month at 6.61%. Correspondingly the positive performance for the quarter was remained 27.83% and if took notice on yearly performance that was 25.26% whereas the year to date performance halted at 51.05%.
As the moving toward the returns measures returns on Investment ratio is significant measure which investor should have in consideration, the QIHU return on investment was recorded as 12.89% as compare to its rivals has Sify Technologies Limited (ADR) (NASDAQ:SIFY)’s ROI -10.12%, Internet Initiative Japan Inc. (ADR) (NASDAQ:IIJI)’s ROI 8.48%, AT&T Inc. (NYSE:T)’s ROI 1.96%, Sprint Nextel Corporation (NYSE:S)’s ROI -10.59%.