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www.InvestorIdeas.com is a meeting place for investors and public companies in leading sectors. Find investing ideas, news and research for biotech stocks, tech and mobile stocks, mining stocks, oil and gas, water stocks, renewable energy, beverage stocks, defense stocks, nanotech and more on... More
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  • Social Networking Investor Alert; Renren Inc. (NYSE: RENN) Reports First Quarter Results  0 comments
    Jun 21, 2011 11:24 AM | about stocks: RENN
    Social Networking Investor Alert; Renren Inc. (NYSE: RENN) Reports First Quarter Results
     
    POINT ROBERTS, Wash., June 21,  2011 - InvestorIdeas.com, a global investor research portal, specializing in sector research including tech stocks issues an investor alert for social networking stock, Renren Inc. (NYSE: RENN ) following the release of first quarter results.  
    The stock traded up yesterday in trading, in anticipation of earnings.
     
    Renren Announces Unaudited First Quarter 2011 Financial Results
     
    BEIJING, June 20, 2011 - Renren Inc. (NYSE:RENN), the leading real-name social networking internet platform in China ("Renren" or the "Company"), today announced its unaudited financial results for the first quarter ended March 31, 2011.
     
    First Quarter 2011 Highlights
    •Total net revenues were US$20.6 million, a 46.6% increase from the corresponding period in 2010.
    •Online advertising revenues were US$8.1 million, a 100.5% increase from the corresponding period in 2010.
    •Gross profit was US$16.5 million, a 57.6% increase from the corresponding period in 2010.
    •Net loss was US$2.6 million, a 78.5% decrease from the corresponding period in 2010.
    •Adjusted (1) net loss was US$1.1 million, compared to US$0.6 million adjusted net income in the corresponding period in 2010.
     
     
    Renren Inc. (NYSE:RENN) operates the leading real name social networking internet platform in China. It enables users to connect and communicate with each other, share information and user generated content, play online games, listen to music, shop for deals and enjoy a wide range of other features and services. Renren's platform includes the main social networking website Renren.com, the online games center game.Renren.com, the social commerce website nuomi.com, and the newly launched professional and business social networking service website jingwei.com. It had approximately 117 million activated users as of March 31, 2011.
     
     
    Research Social Networking stocks:
    Visit the Investorideas.com Social Networking Stocks Directory preview page:
     
    Become an Investor Ideas Member Today - Get 24/7 access to our exclusive members only - 13 stock directories; energy, renewable energy, mining stocks, water, biotech. Added bonus for members - New Tech Stocks Directory for Social Networking and Cloud Computing Stocks
    Visit the Investor Ideas membership page to learn more at: http://www.investorideas.com/membership/
     
     
    Sign up for the free investor news letter and get stock alerts in leading sectors! http://www.investorideas.com/Resources/Newsletter.asp
     
     
    About InvestorIdeas.com:
    InvestorIdeas.com is a leader in investor stock research by sector. Sectors we cover include; cleantech and renewable energy stocks, biotech stocks, mining and gold stocks, energy stocks, water, tech, defense stocks, nanotech, agriculture and gaming.
     
    Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. www.InvestorIdeas.com/About/Disclaimer.asp
     
     
    For Additional Information and or interest in becoming a content /revenue partner:
     
     800-665-0411 - dawn@investorideas.com, cvanzant@investorideas.com
     
    Source – Investorideas.com
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