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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