Renren Inc Announces Unaudited Consolidated Earnings Results for the Third Quarter Ended September 30, 2017; Provides Revenue Guidance for the Fourth Quarter of 2017; Records Impairment of Long Term Investments for the Third Quarter Ended September 30, 2017
December 15, 2017 at 05:00 am EST
Share
Renren Inc. announced unaudited consolidated earnings results for the third quarter ended September 30, 2017. For the quarter, the company reported total net revenues were USD 61,763,000 against USD 17,886,000 a year ago. Loss from operations was USD 27,382,000 against USD 18,608,000 a year ago. Loss from continuing operations was USD 22,940,000 against USD 22,810,000 a year ago. Net loss attributable to the company was USD 22,765,000 against USD 22,810,000 a year ago. Basic and diluted loss per share was USD 0.02 against USD 0.02 a year ago. Adjusted net loss was USD 10,535,000 against USD 17,299,000 a year ago. Net loss attributable to company's shareholders per ADS basic and diluted was USD 0.33 against USD 0.33 a year ago.
The company expects to generate revenues in an amount ranging from USD 95 million to USD 100 million in the fourth quarter of 2017, representing a 367% to 392% year-over-year increase. This forecast reflects the company's current and preliminary view, which is subject to change.
The company recorded impairment of long term investments of USD 35,000 for the quarter ended September 30, 2017.
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 Announces Unaudited Consolidated Earnings Results for the Third Quarter Ended September 30, 2017; Provides Revenue Guidance for the Fourth Quarter of 2017; Records Impairment of Long Term Investments for the Third Quarter Ended September 30, 2017
MOATABLE, INC. 
