Renren (RENN), a beneficiary of Facebook IPO hype, falls 6.3% AH after preannouncing Q4 revenue...

|About: Renren Inc. (RENN)|By:, SA News Editor

Renren (RENN), a beneficiary of Facebook IPO hype, falls 6.3% AH after preannouncing Q4 revenue of $31M-$33M ($32.6M consensus), and an operating loss of $15M-$17M (suggests EPS worse than the -$0.01 consensus). Renren's guidance for 2012 revenue growth of 50%-55% is above a consensus of 48.6%, but the company also says its investment budget will increase by $60M-$70M Y/Y.