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Renren (RENN) -5.3% following its Q3 report. Though Q3 EPS beat estimates with the help of stock...

Renren (RENN) -5.3% following its Q3 report. Though Q3 EPS beat estimates with the help of stock buybacks, guidance for Q4 revenue of $45M-$47M is below a $51.1M consensus. Gaming sales rose 120% Y/Y and made up nearly half of revenue. But Internet ad sales fell 14% due to competition and the mobile shift.  Once hyped as the Facebook of China, Renren is proving just one player is a crowded Chinese social media landscape that includes Sina's Weibo and Tencent's Qzone. (PR)
Comments (1)
  • Not familiar with Renren nor Qzone, it would be astonishing that Cn would want to reveal more of themselves like the foolish on Facebook.
    14 Nov 2012, 04:03 PM Reply Like
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