Shares of Qihoo 360 Technology Co Ltd (NYSE:QIHU) surged on Wednesday as it recently announced third-quarter profit soared 18 percent as the Chinese Internet firm declared an increasing user base and a jump in revenue.
The firm’s American depositary shares increased 3.8 percent to $24.60 in after-hours trading. Through the close, the equity was increase 51 percent so far current year.
For the present quarter, the firm anticipates revenue of $93M to $94M, beating the $90M estimate from analysts polled by Thomson Reuters.
Chief Executive Hongyi Zhou articulated that the firm’s currently released products and services will continue to increase results, despite headwinds in the Chinese economy.
Shares of Qihoo 360 Technology Co Ltd (NYSE:QIHU) opened at $24.30 with 119.35 million outstanding shares and touch its highest price of $24.44 of the day and then traded at $24.18 by scoring -0.12 % at time 9:52AM EST, as in the current session stocks gain volume of 60.03 million shares which is higher than its average volume.
As the owner ship concerns stocks institutional ownership remained 36.59% while insider ownership included11.16%. 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 2.93% which was maintained for the month at 11.73%. Correspondingly the positive performance for the quarter was remained 19.74% and if took notice on yearly performance that was 37.66% whereas the year to date performance halted at 54.24%.
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 Youku Tudou Inc (ADR) (NYSE:YOKU)’s ROI -7.50%, Netflix, Inc (NASDAQ:NFLX)’s ROI 2.78%, Baidu.com, Inc. (ADR)(NASDAQ:BIDU)’s ROI 48.37%, SINA Corp(NASDAQ:SINA)’s ROI 3.21%.