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Qihoo 360 Technology Co. Ltd. Message Board

  • major.gainer major.gainer Nov 25, 2013 2:32 PM Flag

    Qihoo 360 Downgraded As Outlook Disappoints

    Qihoo 360 Technology's (QIHU) stock fell Monday after an analyst downgraded the company, saying the company's revenue outlook disappointed.

    The Beijing-based maker of security software and a popular search engine in China late Sunday reported Q3 earnings that beat Wall Street expectations, however.

    EPS excluding items jumped 135% from the year-earlier quarter to 47 cents. Analysts expected 37 cents.

    Sales rose 124% to $187.9 million, vs. the consensus view of $181.7 million, according to Thomson Reuters.

    But Qihoo's revenue outlook for the current quarter of $206 million to $208 million was "only slightly" higher than consensus estimates, according to Stifel Research, which downgraded the stock to hold from buy.

    Qihoo has a history of beating Wall Street estimates. It topped consensus revenue estimates by 5.2% in Q2 and 3.4% in Q3, but its current-quarter guidance would beat the consensus forecast by about 1.7%.

    "We expect revenue momentum to return in mid-2014," Stifel analysts wrote in a research note, according to part of the note posted on Barrons.

    Qihoo stock was down nearly 8% in afternoon trading in the stock market today, near 79.75. Still, Qihoo stock has more than doubled this year and has been a member of the IBD 50 listing of top-performing stocks, checking in at No. 29 on Monday's update

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