NY-listed Qihoo 360 denies hyping usage, revenue numbers

A New York-listed Chinese internet company has denied claims that it inflated its internet usage data and revenue.

The allegations were levied against Qihoo 360 Technology by Anonymous Analytics, a network of anonymous investigators that claims to be linked to Anonymous, a loose group of computer hackers purporting to promote political transparency.

'Qihoo's traffic volume is the reason the company has reported revenue growth of 200 per cent per year in the last three years,' Anonymous Analytics said.

'The only problem is that Qihoo's massive traffic volume is a lie.'

Qihoo, headquartered in Beijing, offers internet and mobile security products to protect users' computers and mobile devices against malware and malicious websites.

Qihoo describes itself as one of the top three internet companies in China as measured by user base, with 411 million active internet users at the end of March.

In the first quarter, Qihoo's revenue jumped 202 per cent to US$69.3 million while its net profit was US$14.1 million, compared with a net loss of US$21.4 million in the first quarter last year, according to its website.