Renren Inc. (RENN), a real-name social networking internet platform in China, reported a net loss for the second quarter of US$24.9 million or US$0.06 per ADS, compared to a net income of US$0.8 million or US$0.00 per ADS for the year-ago quarter.
Excluding results of operations attributable to Nuomi in both quarters, net loss in the second quarter would be US$17.7 million, compared to net income of US$5.0 million in the prior year quarter.
Adjusted net loss for the second quarter was US$21.8 million, compared to adjusted net income of US$2.3 million in the same quarter last year.
Excluding results of operations attributable to Nuomi in both quarters, adjusted net loss in the second quarter would be US$14.5 million, compared to adjusted net income of US$6.5 million in the second quarter of last year.
Total revenue for the second quarter rose 47.5% to US$44.82 million from US$30.40 million a year ago.
Analysts polled by Thomson Reuters expected the company to report a loss of US$0.04 per ADS on revenue of US$42.23 million for the second quarter.
Looking forward, the company expects to generate third quarter revenues in the range of US$49 million to US$51 million, representing 43% to 49% year-over-year growth. Analysts currently expect the company to post revenue of US$52.19 million for the third quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.