Why Qihoo 360 (QIHU) Stock Is Up Today

NEW YORK (TheStreet) -- Qihoo 360 (QIHU) was gaining 6.1% to $95.49 Wednesday after beating analysts' estimates for earnings and revenue in the first quarter.

For the first quarter Qihoo 360 reported earnings of 54 cents a share, beating the Capital IQ Consensus Estimate of 34 cents a share by 20 cents. Revenue grew 141.3% from the year-ago quarter to $265.1 million. Analysts expected revenue of $228.2 million for the quarter.

Looking forward to the second quarter Qihoo 360 expects revenue of $300 million to $305 million, above analysts' estimates of $270.18 million for the quarter.

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TheStreet Ratings team rates QIHOO 360 TECHNOLGY CO -ADR as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate QIHOO 360 TECHNOLGY CO -ADR (QIHU) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share and compelling growth in net income. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation."

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