Chinese internet outfit Qihoo 360 (NYSE: QIHU) has announced its unaudited financials for its first quarter, the three months ending 31 March 2013.
Revenues were $109.9 million, up 59 percent year-on-year.
Net income was $5.6 million, down 60 percent.
Record user base
The company saw its monthly active user base rise to a record 457 million.
Of these, there were 275 million smartphone users of its main mobile security product, up from 74 million 12 months ago.
In addition, there were 281,000 paying users of its web games platform, up 102 percent year-on-year.
This is the main component of the company's internet value-added service revenues, which were up 119 percent to $45.8 million.
Building higher
"We are very pleased with our strong first quarter results as we continue to demonstrate top-line growth and further progress our strategic initiatives," commented CEO Hongyi Zhou.
"We have further strengthened our leadership position across our key product categories. Monthly active users of our PC browsers reached a record 332 million, covering almost 70 percent of the Chinese PC internet population.
"Our comprehensive mobile product portfolio provides us with a solid foundation to build a leading mobile Internet platform in China."
As of March 31, 2013, Qihoo had cash and cash equivalents worth $301 million.
[source: Qihoo 360 IR]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
Top Stories
News
May 29th, 2024
Dungeon & Fighter Mobile picks up $66 million on China's App Store in first week
Events
Indie Game Fest & Indie Campus 2024 | Europe | May 31st |
Indie Craft K-Game Festival 2024 | Europe | May 31st |
BostonFig Online 2024 | Jun 1st | |
GameSummit Summer 2024 | Jun 1st | |
Gotland Game Conference 2024 | Nordic | Jun 3rd |
Games Mental Health Summit 2024 | Europe | Jun 3rd |
Dev Play Conference 2024 | Europe | Jun 3rd |
Tribeca Games Festival 2024 | North America | Jun 5th |