NEW YORK (TheStreet) -- Qihoo 360 Technology (QIHU) shares are rising 0.85% to $49.98 on Wednesday after the Chinese Internet company posted its second quarter 2015 earnings results after the market close yesterday that beat analysts' estimates.
For the quarter ended June 30, the company earned 82 cents a share on revenue of $438.3 million.
In the same period the previous year, the company posted earnings of 50 cents a share on revenue of $317.9 million.
Analysts had expected the company to earn 73 cents a share on revenue of $438.09 million.
For the month of June, active users of the company's PC-based services and products rose to 514 million, up from 496 million in June of last year, the company said.
Smartphone users grew in the same month to 799 million, an increase from 641 million a year ago.
"As we continued to maintain our leadership position in key product categories, we took initiatives to further expand our footprint into some important mobile-Internet-related fields, such as smart hardware and smart phone," CEO Hongyii Zhou stated.
Additionally, the company launched 360 Auto Guard, an automobile data recorder, and a new generation of 360 Kids Guard in the recent quarter.
Based in Beijing, Qihoo 360 Technology offers a Web portal and antivirus software in China.
Separately, TheStreet Ratings team rates QIHOO 360 TECHNOLGY CO -ADR as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate QIHOO 360 TECHNOLGY CO -ADR (QIHU) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, growth in earnings per share, increase in net income and expanding profit margins. We feel its strengths outweigh the fact that the company shows weak operating cash flow."
You can view the full analysis from the report here: QIHU Ratings Report