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Qihoo 360's profit up 18% in Q3

Nov. 21, 2012 (China Knowledge) - Qihoo 360 Technology Co<QIHU>, a leading security software company in China, reaped US$12.9 million in net profit attributable to shareholders in the third quarter of this year, reflecting a YoY increase of 18.35%.

On a non-GAAP basis, the U.S.-listed company's net profit attributable to shareholders for the three months ended Sep 30, 2012 reached US$24.2 million, compared with US$19.5 million in the third quarter of 2011.

Revenue for the third quarter of 2012 amounted to US$84 million, representing an increase of 77% YoY from US$47.5 million.

The company expects its revenues for the fourth quarter of this year to be between US$93 million and US$94 million, reflecting a YoY increase of 49% to 51%.

As of Sep 30, 2012, Qihoo 360 Technology had US$348 million in cash.

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