Wed, Mar. 18, 11:55 PM
- Though Renren (NYSE:RENN) beat Q4 estimates, it's guiding for Q1 revenue of $11M-$13M, down from Q4's $17.2M and Q1 2014's $24.9M, and far below a sole (outdated?) analyst estimate of $29.7M.
- $28.9M was spent in Q4 to buy back 9.3M shares (2.6% of outstanding shares), giving a lift to EPS. Cost cuts also helped: GAAP sales/marketing spend fell 53% Y/Y to $8.5M; R&D fell 38% to $10.6M; G&A rose less than 1% to $14M.
- Gaming revenue fell 58.4% Y/Y to $6.5M; other revenue (social networking-related) fell 13.4% to $10.7M, with a 44.1% drop in ad revenue offsetting a 33.6% increase in Internet value-added service revenue (largely due to the growth of Renren's Woxiu social video platform). Monthly logged in users rose by 1M to 46M.
- CEO Joseph Chen insists better days are ahead. "With a better cost structure in place, we believe the most challenging part of the transition is past us. Our recent initiatives in Internet financial services have made an exciting start and we believe this can become a future growth engine. Meanwhile, we will continue to innovate and develop new services for our core [social networking service], which is the foundation of all our services including internet finance."
- Q4 results, PR
Wed, Mar. 18, 7:05 PM
Tue, Mar. 17, 5:35 PM
Nov. 20, 2014, 7:07 PM
- Renren (NYSE:RENN) expects Q4 revenue of $15M-$17M, down 44.6%-51.1% Y/Y and well below a $21.3M consensus.
- Q3 online ad revenue -40.3% Y/Y to $8.8M; value-added services -19.6% to $4.7M; games -60.5% to $8.1M.
- Sales/marketing spend -22.5% to $12M; R&D -36.3% to $12.7M; G&A +3.5% to $13.8M.
- Renren ended Q3 with $740M in cash and term deposits, and no debt. Due to the company's recent performance, its market cap is currently $743M.
- Q3 results, PR
Nov. 20, 2014, 6:03 PM
Nov. 19, 2014, 5:35 PM
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
Aug. 24, 2014, 5:35 PM
May. 21, 2014, 7:21 PM
May. 20, 2014, 5:35 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, 12:45 AM
Mar. 18, 2014, 12:10 AM
Mar. 17, 2014, 5:35 PM
Feb. 28, 2014, 2:16 PM
- Over the last 48 hours, Baidu, Dangdang, Youku, and 58.com have all posted Q4 beats and provided strong Q1 guidance. The numbers are giving a lift to a slew of Chinese Internet stocks.
- Notable gainers: SOHU +6.5%. PWRD +13.2%. VIPS +4.3%. YY +2.2%. RENN +3.8%. GOMO +5.5%.
- In Sohu's case, the rumor mill might also be helping out. A source tells Marbridge Consulting Sohu CEO Charles Zhang and Tencent (TCEHY +1.2%) CEO Pony Ma have talked about merging their companies' online video units. Both Sohu and Tencent trail market leaders Youku and Baidu in China's burgeoning online video market.
- Dangdang (DANG +8.6%) is adding to yesterday's big post-earnings gains after Oppenheimer hiked its PT to $15. The firm likes Dangdang's improved efficiency and partnerships with e-commerce rivals (inc. Alibaba's Tmall), and the fact mobile accounted for 13% of Q4 orders.
RENN vs. ETF Alternatives
Renren Inc is engaged in the operation of social networking internet platform, as well as provision of online advertising services and internet value-added services, including online gaming operations, online talent show and other IVAS, among others.
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