Renren tumbles (again) as guidance overshadows Q4 beat

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

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