Renren Inc. reported unaudited consolidated earnings results for the second quarter and six months ended of June 30, 2017. For the quarter, the company reported total net revenues of $22,332,000 compared to $14,375,000 a year ago. Loss from operations was $15,456,000 compared to $18,813,000 a year ago. Loss before provision of income tax and loss in equity method investments, net of tax was $78,209,000 compared to $47,143,000 a year ago. Loss from continuing operations was $17,195,000 compared to $46,098,000 a year ago. Net loss attributable to the company was $17,195,000 compared to $46,098,000 a year ago. Basic and diluted net loss per share attributable to the company was $0.02 compared to $0.05 a year ago. Adjusted net loss was $12,026,000 compared to $40,641,000 a year ago. Losses, adjusted for stock option expense, came to 17 cents per share.

For the six months, the company reported total net revenues of $43,278,000 compared to $25,154,000 a year ago. Loss from operations was $33,053,000 compared to $37,990,000 a year ago. Loss before provision of income tax and loss in equity method investments, net of tax was $97,702,000 compared to $66,546,000 a year ago. Loss from continuing operations was $33,373,000 compared to $77,949,000 a year ago. Net loss attributable to the company was $33,373,000 compared to $69,248,000 a year ago. Basic and diluted net loss per share attributable to the company was $0.03 compared to $0.07 a year ago. Adjusted net loss was $23,061,000 compared to $56,566,000 a year ago.

The company expects to generate revenues in an amount ranging from $60 million to $65 million in the third quarter of 2017, representing a 235.5% to 263.4% year-over-year increase. The increase is expected to be primarily due to revenue from used car sales through one of the subsidiaries that is conducting a used car trading business.