loss on short term investment and higher incomde tax.
Qihoo showed impressive strength on the top line. That's important because while the stock trades for a modest 25 times earnings, roughly 28% of its shares available for trading are sold short.
(CNN)When I describe Letv as the Netflix of China, Mark Li corrects me. "It's the other way around," he says. "Netflix is the Letv of the U.S."
He has a point. Letv launched its Internet video streaming service three years before Netflix (2004 versus 2007). It was producing original movies and series long before Netflix rolled out House of Cards. And in recent years, the Chinese behemoth has expanded in ways Netflix hasn't: It sells TV settop boxes and smart TVs -- devices that can help you watch all that video. "We want to control the screens too," says Li, the ex-Googler who is head of data analytics at Letv, a company with a $12 billion market cap.
Revenues are growing at 38 %. They are investing heavily in R&D and mobile.
If not, the earnings would have grown over 40%