Qihoo 360 (QIHU) CFO Says New Ad Model Will Drive Faster Top-Line Growth
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Qihoo 360 (NYSE: QIHU) shares are indicated higher Thursday morning, amid reports the company is taking steps to increase top-line growth via a new feature.
Speaking to Bloomberg this morning, CFO Alex Xu said Qihoo is debuting a new ad revenue which charges advertisers for each computer-mouse click on some web listings on hao.360.cn. The move would be in addition to the flat monthly fee it already charges advertisers.
Xu commented that Qihoo started showing different listings in the directory page in May, allowing the company to move into the new revenue model.
The deal could be very lucrative for Qihoo: iResearch data suggests that its 360 Safe Browser accounted for 36.2 percent of Internet search time in China during March, compared with 33.2 percent for Microsoft's (Nasdaq: MSFT) Internet Explorer. Bloomberg suggests that Qihoo had 411 million users for its products and services as of March.
First-quarter 2012 revs were $69.3 million, with the Street expecting about 5 percent sequential growth to $72.60 million in the second quarter.
Shares are up about 1.5 percent early.
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Speaking to Bloomberg this morning, CFO Alex Xu said Qihoo is debuting a new ad revenue which charges advertisers for each computer-mouse click on some web listings on hao.360.cn. The move would be in addition to the flat monthly fee it already charges advertisers.
Xu commented that Qihoo started showing different listings in the directory page in May, allowing the company to move into the new revenue model.
The deal could be very lucrative for Qihoo: iResearch data suggests that its 360 Safe Browser accounted for 36.2 percent of Internet search time in China during March, compared with 33.2 percent for Microsoft's (Nasdaq: MSFT) Internet Explorer. Bloomberg suggests that Qihoo had 411 million users for its products and services as of March.
First-quarter 2012 revs were $69.3 million, with the Street expecting about 5 percent sequential growth to $72.60 million in the second quarter.
Shares are up about 1.5 percent early.
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