Renren Q2 Loss Narrows - Quick Facts

(RTTNews) - Renren Inc. (RENN) reported that its second-quarter net loss attributable to the company was US$9.3 million or $0.03 per ADS, narrower than US$24.9 million or $0.06 per ADS in the comparable quarter last year.

Adjusted net loss in the latest second quarter was US$3.83 million, narrower than US$21.80 million in the corresponding period of 2012.

Total net revenues for the second quarter were US$49.62 million, up 10.7% from $44.82 million in the prior year quarter.

On average, analysts polled by Thomson Reuters expected the company to report a loss of US$0.07 per share on revenues of US$55.08 million for the quarter. Analysts' estimates typically exclude special items.

The company expects to generate revenues in an amount ranging from US$47 million to US$49 million in the third quarter of 2013, representing 3% to 7% year-over-year decline. Analysts expect the company to report revenues of US$64.55 million for the third-quarter.