Qihoo 360 Unaudited financial statements for the first quarter

May 28, according to foreign media reports, Qihoo 360 (NYSE: QIHU) released its unaudited financial report for the first quarter of 2014 as at March 31. According to the report, Qihoo 360 revenue was 265.1 million U.S. dollars in the first quarter of 2014, an increase of 141.3% per cent over a year earlier, with a net profit of 49.1 million U.S. dollars and a 5.6 million dollar year-on-year increase of 777%.

Main achievements

At the end of the first quarter of 2014, Qihoo 360 's PC products and services had a total of 479 million active subscribers, with 457 million at the end of the first quarter of last year.

At the end of the first quarter of 2014, the user penetration rate of Qihoo 360 was 93.3%, at the end of the first quarter of last year, 96.5%.

By the end of the first quarter of 2014, 360 of the main mobile security products for Qihoo were 538 million, with 275 million at the end of the first quarter of last year.

By the end of the first quarter of 2014, Qihoo 360 's PC browser had a 339 million-month active user, with 332 million at the end of the first quarter of last year.

At the end of the first quarter of 2014, Qihoo 360 's PC browser penetration rate was 66.1%, at the end of the first quarter of last year, 69.6%.

In the first quarter of 2014, Qihoo 360 's personal launch page had an average number of independent visitors per day, 122 million, 94 million in the same period last year.

In the first quarter of 2014, the average daily clicks on Qihoo 360 's personal launch page were about 772 million times, 489 million times in the same period last year.

In the first quarter of 2014, Qihoo 360 revenue was 265.1 million U.S. dollars, up 141.3% from 109.9 million dollars in the same period last year, and 221.6 million dollars in the previous quarter.

In the first quarter of 2014, Qihoo 360 online advertising revenue of 140 million U.S. dollars, an increase of 120.9%, the chain is basically equivalent.

The first quarter of 2014, Qihoo 360 internet value-added services revenue of 124.8 million U.S. dollars, an increase of 172.2%, the chain growth of 58.2%.

In the first quarter of 2014, Qihoo 360 had a revenue cost of $50.4 million, a 262.4% increase from 13.9 million U.S. dollars in the same period last year, and 30.2 million dollars in the previous quarter.

In the first quarter of 2014, Qihoo 360 spent $175.1 million, the same period last year at $89.2 million trillion, and 184.9 million dollars in the previous quarter; the operating profit of non-US GAAP was 155.2 million U.S. dollars, the same period last year, at 77.2 million U.S.

In the first quarter of 2014, Qihoo 360 operating profit of 39.6 million U.S. dollars, the same period last year operating profit of 6.8 million U.S. dollars, the last quarter operating profit of $8.9 million; non-US general accounting standards operating profit of 59.5 million U.S. dollars, the same period last year for 18.8 million U.S. dollars, the previous quarter of 84.2 million U.S. dollars.

In the first quarter of 2014, Qihoo 360 operating rate was 14.9%, the same period last year was 6.2%, the previous quarter was 4%; the operating interest rate for non-US GAAP is 22.5%, the same period last year was 17.1%, and the previous quarter was 38%.

In the first quarter of 2014, Qihoo 360 earned a net profit of $49.1 million, a year earlier of $5.6 million trillion, and 16.7 million dollars in the previous quarter; The net profit for non-US GAAP was $73.3 million, the same period last year at 17.5 million dollars, and the previous quarter at $96.3 million.

In the first quarter of 2014, Qihoo 360 had a net interest rate of 18.5%, 5.1% in the same period last year and 7.5% in the previous quarter; the net interest rate for non-US GAAP was 27.7%, the same period last year 15.9%, and 43.5% in the previous quarter.

In the first quarter of 2014, 360 U.S. depository receipts in Qihoo $0.37 were diluted, and the U.S. depository receipts for non-US GAAP had a dilution gain of USD 0.54 per share.

In the first quarter of 2014, Qihoo 360 generated net cash of $100.5 million, a net cash outflow of $27.9 million in the same period last year, a net cash inflow of $76.8 million in the previous quarter, and cash capital expenditure of $69.5 million.

As of March 31, 2014, Qihoo 360 's remaining cash and cash equivalents amounted to USD 901.6 million.

Business Expectations

Qihoo 360 expects its revenue in the second quarter of 2014 to be between $300 million and $305 million trillion, up 98% to 101% year-on-year, and 13% to 15%.