Renren Inc. (RENN) reported that its third-quarter net loss attributable to the company was US$15.4 million, compared to a net loss of US$1.2 million in the corresponding period in 2011. Net loss per ADS for the quarter was $0.04, compared to break even per share last year.
Excluding results of operations attributable to Nuomi in both quarters, net loss in the third quarter of 2012 would be US$9.1 million, compared to a net income of US$6.2 million in the corresponding period of 2011.
Adjusted net loss was US$12.1 million, compared to a net income of US$0.3 million in the corresponding period in 2011. Excluding results of operations attributable to Nuomi in both quarters, adjusted net loss in the third quarter of 2012 would be US$5.9 million, compared to the adjusted net income of US$7.7 million in the corresponding period in 2011.
Total net revenues for the third quarter of 2012 were US$50.4 million, representing a 47.2% increase from the corresponding period in 2011.
Analysts polled by Thomson Reuters expected the company to report a loss of US$0.05 per share on revenues of US$50.43 million for the quarter. Analysts' estimates typically exclude special items.
The company expects to generate revenues in an amount ranging from US$45 million to US$47 million in the fourth quarter of 2012, representing 37% to 43% year-over-year growth. Analysts expect the company to revenues of US$51.09 million for the fourth-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.