Qihoo 360 net income doubles in 2014

SHANGHAI -- Qihoo 360 Technology Co Ltd, a leading Internet company listed on the New York Stock Exchange, reported doubled revenue and net income in 2014, according to a statement released on Tuesday.

Its 2014 revenue reached $1.39 billion, up 107 percent year on year. Its net income in 2014 was $222.8 million, up 123.5 percent year on year, according to the statement.

Qihoo 360, a major competitor with Chinese Internet giant Baidu in Internet search, reported a sixteenth consecutive quarter of growth.

Online advertising, Internet value-added services, search and mobile app businesses contributed to the robust growth, according to Qi Xiangdong, president of the company.

Qihoo 360, founded in 2005, is the number one provider of Internet and mobile security products and the number two Internet search engine with a 30 percent of market share in China, according to its official website.