- Apr 13, 2013
- 3,224
As a number of MT members are using Qihoo products, just thought a summary of their Corporate earnings report released earlier today would be of interest.
As most understand, Qihoo provides security software as a loss leader to drive their value added services such as Advertising. This strategy has born fruit, as Qihoo's share of the Chinese search market has risen to 30% (from virtually nothing a few years ago); the gains in search have come almost entirely at the expense of Baidu.
Users for Qihoo's security product have also risen- the PC based security app now has 496 million users (up from 461 million in June 2013). Growth in the Mobile security app has been much more dramatic with 641 million users, up from 338 million in June 2013.
Total revenues (including the Gaming market) for the quarter reached 318 million USD, an increase from 151 million USD seen in last years second quarter. Important to note is that Margins have decreased from ~37% last year to about 21% currently. The reason for this decrease is that Qihoo is putting more money back into product improvement. So as long as this cash is being well spent, consumers should see a much stronger product in the coming year.
As most understand, Qihoo provides security software as a loss leader to drive their value added services such as Advertising. This strategy has born fruit, as Qihoo's share of the Chinese search market has risen to 30% (from virtually nothing a few years ago); the gains in search have come almost entirely at the expense of Baidu.
Users for Qihoo's security product have also risen- the PC based security app now has 496 million users (up from 461 million in June 2013). Growth in the Mobile security app has been much more dramatic with 641 million users, up from 338 million in June 2013.
Total revenues (including the Gaming market) for the quarter reached 318 million USD, an increase from 151 million USD seen in last years second quarter. Important to note is that Margins have decreased from ~37% last year to about 21% currently. The reason for this decrease is that Qihoo is putting more money back into product improvement. So as long as this cash is being well spent, consumers should see a much stronger product in the coming year.
