Chinese Web search and security company Qihoo 360 Technology (QIHU) is expected to report today that the company’s Q4 revenue rose 50% to $93.7, Investor’s Business Daily reported.
Wall Street sees Qihoo posting Q4 earnings per share minus items of 17 cents. That's down 15% from 20 cents in the year-earlier quarter. That would mark the first year-over-year earnings decline in seven quarters, though EPS has fallen sequentially the prior three quarters.
Qihoo runs a popular browser in China, and last summer it introduced a search engine that's been gaining market share and is seen as a challenger to Baidu (BIDU). Qihoo's search engine likely has seen its market share increase slightly from about 10% at the end of 2012 to about 12% now. Some reports have suggested that those market share gains have come at the expense of Google (GOOG), which used to be Qihoo's default search engine.
Qihoo shares are up 20% this year, including 2.2%% on Monday to close at 32.75, close to its recent highs. Qihoo has surged 123% from Oct. 2, while Baidu is down 26% and Google up 31%.
QIHU is a Cabot Chna & Emerging Markets Report stock.
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