Renren Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2012; Provides Earnings Guidance for the Third Quarter of 2012
August 07, 2012 at 07:00 pm EDT
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Renren Inc. reported unaudited consolidated earnings results for the second quarter ended June 30, 2012. For the quarter, total net revenues were $30,395,000 against $44,824,000 a year ago. Income from operations was $674,000 against loss from operations of $22,205,000 a year ago. Income before provision of income tax, loss in equity method investment and no controlling interests, net of income taxes was $1,557,000 against loss before provision of income tax, loss in equity method investment and no controlling interests, net of income taxes $17,745,000 a year ago. Income before loss in equity method investments and no controlling interests, net of income taxes was $743,000 against loss before loss in equity method investments and no controlling interests, net of income taxes of $17,922,000 a year ago. Net income attributable to the company was $751,000 or $0.00 per basic and diluted share against net loss attributable to the company of $24,939,000 or $0.02 per basic and diluted share a year ago. Basic and diluted net income per ADS shares was $0.00 against Basic and diluted net income per ADS shares of negative $0.06 a year ago. Adjusted net income was $2,313,000 against adjusted net loss of $21,798,000 a year ago.
For the third quarter of 2012, the company expects to generate revenues in an amount ranging from $49 million to $51 million, representing 43% to 49% year-over-year growth. This forecast reflects company's current and preliminary view, which is subject to change.
Moatable, Inc. help companies, small business owners, and sole proprietors streamline their operations, reach more customers, and close business transactions using its SaaS products and services. It operates two software-as-a-service (SaaS) businesses, Lofty and Trucker Path. Lofty offers a real estate sales acceleration and client lifecycle management platform that allows real estate professionals to obtain and nurture leads, close transactions, and retain their clients. The platform combines Internet data exchange (IDX) websites, lead generation, marketing automation, advanced lead management, and AI to capture and convert leads into new business. Trucker Path is a driver-centric online transportation management platform. Trucker Path provides trip planning, navigation, freight sourcing, a marketplace that offers goods and services truckers use to operate their businesses and helps connect qualified brokers and carriers to expand their reach and initiate and complete transactions.
Renren Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2012; Provides Earnings Guidance for the Third Quarter of 2012