Renren: An Indirect Play In Online Lending
Renren Will Never Be China's Facebook
Pamela de Butler
Pamela de Butler
You Won't Get Renren That Cheap Again
Nov. 19, 2014, 5:35 PM
Nov. 4, 2014, 1:04 PM
- China's DoNews reports (citing an internal e-mail) Sohu (SOHU -1%) has reached a deal to acquire Renren's (RENN) 56.com video site, and plans to merge it with Sohu Video. Details will reportedly be provided next week.
- A July report stating Renren is selling 56.com Chinese video site Mango TV didn't pan out. However, Renren (having a rough time over the last two years) has unloaded its Nuomi daily deals site to Baidu, and has generally been looking to cut costs.
- Acquiring 56.com would give Sohu more scale as it squares off against Baidu, Youku, and Tencent in a very competitive Chinese online/mobile video market. Shares are off slightly after rallying yesterday (along with those of gaming unit Changyou) post-earnings.
Sep. 15, 2014, 1:21 PM
- Maybe looking to raise cash with which to buy Alibaba (Pending:BABA) this week, investors are dumping a wide swath of other Chinese internet names.
- Qihoo (QIHU -2.6%), Sohu.com (SOHU -5.3%), Baidu (BIDU -3.8%), Sina (SINA -4.9%), Renren (RENN -4%), Weibo (WB -11.3%), YY (YY -7.3%).
- Previously: Alibaba to boost IPO size
Aug. 26, 2014, 3:54 PM
- With investors having already digested a lot of bad news over the last year, Renren's (RENN +2.4%) Q2 revenue beat is overshadowing its light Q3 guidance: Revenue of $19M-$21M vs. a $22.9M consensus.
- Gaming revenue fell 56.6% Y/Y in Q2 to $9.9M, ad revenue 23.9% to $11.7M, and Internet value-added service revenue 35% to $3.4M. Monthly unique logins fell to 44M in June from 51M in March and 54M a year ago.
- Cost-cutting has been aggressive: Sales/marketing spend -37.3% Y/Y to $11.6M, and R&D -33.9% to $13.4M. G&A +7.6% to $14M.
- Operating loss was $30.4M. An $86M gain on the sale of short-term investments allowed Renren to report a profit. A new $100M buyback has been authorized, following the expiration of a program that was used to repurchase $69.4M worth of shares.
- Q2 results, PR
Aug. 25, 2014, 7:12 PM
- Renren (NYSE:RENN): Q2 EPS of $0.09 may not be comparable to consensus of -$0.08.
- Revenue of $25M (-49.6% Y/Y) beats by $3.13M.
Aug. 24, 2014, 5:35 PM
Jul. 30, 2014, 1:58 PM
- Marbridge Consulting reports Renren (RENN +1.2%) plans to sell its 56.com video site to fellow Chinese online video provider Mango TV, with a formal announcement due in August or September.
- Note: While some of Marbridge's reports have panned out, others have been shot down.
- Renren has already unloaded its Nuomi daily deals site to Baidu, as it tries to narrow its focus amid nosediving gaming revenue and declining social network traffic.
May 21, 2014, 7:21 PM
- Renren (RENN): Q1 EPS of $0.03 may not be comparable to consensus of $0.09.
- Revenue of $24.9M (-39.9% Y/Y) misses by $0.59M.
May 20, 2014, 5:35 PM
Mar. 19, 2014, 12:46 PM
Mar. 19, 2014, 12:13 PM
- Renren (RENN -11.3%) expects Q1 revenue of $23M-$25M, soundly below a $30.4M consensus and good for a 40%-45% Y/Y drop.
- Online game revenue fell 39.6% in Q4 to $15.6M after dropping 17% in Q3. Ad revenue, pressured by share losses to social media rivals such as Tencent and Sina, fell 17.9% to $10.2M after falling 11% in Q3. Monthly unique logins fell to 45M in December from 50M in September and 56M a year earlier.
- A 24.9% Y/Y drop in R&D spend to $17.8M helped EPS beat estimates. Sales/marketing spend rose 38.8% to $19.6M, and G&A spend 35.3% to $14.4M.
- 4.9M shares were repurchased during the quarter.
- Renren also fell hard (I, II) following its Q2 and Q3 reports.
- Q4 results, PR
Mar. 19, 2014, 9:10 AM
Mar. 19, 2014, 12:45 AM
- Renren (RENN): Q4 EPS of $0.09 may not be comparable to consensus of -$0.04.
- Revenue of $30.7M (-29.1% Y/Y) beats by $0.55M.
Mar. 18, 2014, 12:10 AM
Mar. 17, 2014, 5:35 PM
Mar. 10, 2014, 3:57 PM
- Chinese Internet and solar names, many of them among the standouts of the 2013/2014 tech rally, are heading into the close with steep losses after the Chinese government reported exports fell 18.1% Y/Y in February (much worse than expected).
- Internet decliners: WUBA -10.7%. YOKU -7.3%. ATHM -7.2%. QUNR -6.4%. NQ -6%. RENN -5.2%. CTRP -5.2%. YY -4.4%. WBAI -4.4%. KONG -5.5%.
- Solar decliners: JKS -6.3%. YGE -5.8%. TSL -6.7%. CSUN -4.9%. CSIQ -4.5%. DQ -4.2%. HSOL -4.5%.
- Solar ETFs: KWT, TAN
Renren Inc. engages in the operation of Internet portal sites and social networking sites, online advertising services, online gaming operations, and the provision of Internet value-added services. Its platforms includes Renren.com, Game.renren.com, Nuomi.com, and 56.com. The company was founded... More
Industry: Internet Information Providers
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