QIHOO 360 SAYS TO FOCUS ON VAS FOR BUSINESS EXPANSION

AsiaInfo Services
03-31-2011
Qihoo 360 Says to Focus on VAS for Business Expansion

BEIJING, Mar 31, 2011 (SinoCast Daily Business Beat via COMTEX) -- Qihoo 360 Technology Co., Ltd. (NYSE: QIHU), one of the popular antivirus software makers in China, will come with more value-added services in cooperation with its partners for business growth after going public.

Qihoo 360 expects to see a robust growth in advertising and value-added services in the future, said Zhou Hongyi, chairman for the Beijing-based company, yesterday.

Qihoo 360 will step up its efforts to expand its business in the next five to ten years, according to Mr. Zhou, describing the just-concluded US listing as a start of the business expansion.

The company closed at USD 34 apiece in its debut trading on the New York Stock Exchange (NYSE), soaring 134.45% from the offering price of USD 14.50.

Qihoo 360 became profitable in 2009, reporting a net profit of USD 8.5 million for 2010. Net earnings per share stood at USD 0.05 in 2010, in contrast to USD 0.03 in the previous year and a loss of USD 0.07 in 2008.

Source: www.sina.com.cn (March 31, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
Portal Software
SinoCast China Business Daily news
cooperation
listing
growth
expansion
advertising
debut

Copyright 2011 AsiaInfo Services (via Comtex). All rights reserved