Renren Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Revenue Guidance for the Second Quarter of 2017
June 21, 2017 at 06:00 am EDT
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Renren Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total net revenue of USD 20,946,000 against USD 10,779,000 a year ago. Loss from operations was USD 17,597,000 against USD 19,177,000 a year ago. Loss from continuing operations was USD 16,178,000 or USD 0.02 per basic and diluted against USD 31,851,000 or USD 0.03 per basic and diluted a year ago. Net loss attributable to the company was USD 16,178,000 or USD 0.02 per basic and diluted share against USD 23,150,000 or USD 0.02 per basic and diluted share a year ago. Adjusted net loss was USD 11,035,000 against USD 15,925,000 a year ago. Operating loss was USD 17.6 million, compared to an operating loss of USD 19.2 million in the corresponding period in 2016.
The company expects to generate revenues in an amount ranging from USD 21.5 million to USD 23.5 million in the second quarter of 2017, representing a 49.6% to 63.5% year-over-year increase. 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 First Quarter Ended March 31, 2017; Provides Revenue Guidance for the Second Quarter of 2017
MOATABLE, INC. 