EmailRenren (RENN $7.22 -0.38) reported first quarter GAAP EPS of ($0.04)
versus ( $0.14) last year.
Revenues grew 46.6% to $20.6 million (no first quarter estimates).
For the second quarter, the company expects to see revenues in the range of $29
million to $30 million versus the $29.55 million Capital IQ Consensus Estimate.
The company said, "Online advertising revenues were US$8.1 million, representing
an increase of 100.5% year/year. The significant increase was attributable to
the growth of the company's SNS platform and user base which attracted more
advertisers to our advertising services. The number of our activated users
increased from approx. 91 million of March 31, 2010 to approx.117 million as of
March 31, 2011, and further to approx.122 million as of May 31, 2011. The
monthly unique log-in users increased from approx. 23 million in March 2010 to
approx. 31 million in March 2011, and to approx. 33 million in May 2011.
Internet Value-Added Services revenues were +25% year/year to $12.4 million. Our
company is still in the early stages of monetization. We want to build a strong
foundation for sustainable long-term growth by investing significantly in
research & development, sales & marketing, and strategic acquisitions and
business partnerships."
than one year.
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