Renren Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2019; Provides Revenue Guidance for the Second Quarter of 2019
June 11, 2019
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Renren Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2019. For the quarter, the company reported total net revenue of $110,363,000 against $133,954,000 a year ago. Loss from operations was $11,066,000 against $23,709,000 a year ago. Net loss was $28,055,000 against $41,570,000 reported last year. Basic net loss per share from continuing operations attributable to shareholders of the company was $0.03 against $0.04 reported last year. Basic loss per share attributable to the company per ADS was $0.40 against $0.60 a year ago. Basic loss per share attributable to the company was $0.03 against $0.04 a year ago.
The Company expects to generate revenues in an amount ranging from $98 million to $103 million in the second quarter of 2019.
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 First Quarter Ended March 31, 2019; Provides Revenue Guidance for the Second Quarter of 2019