Renren Turns To Profit In Q4 - Quick Facts

(RTTNews) - Renren Inc. (RENN) reported that its fourth-quarter net income attributable to the company was US$101.5 million or $0.27 per ADS, compared to net loss of US$21.1 million or $0.06 per ADS in the comparable quarter last year.

Adjusted net income in the latest fourth quarter was US$105.4 million, compared to net loss of US$16.7 million in the previous year quarter.

Total net revenues for the fourth quarter were US$30.69 million, down 29.1% from US$43.30 million in the prior year quarter.

On average, analysts polled by Thomson Reuters expected the company to report a loss of US$0.04 per share on revenues of US$30.15 million for the quarter. Analysts' estimates typically exclude special items.

The company expects to generate revenues in an amount ranging from US$23 million to US$25 million in the first quarter of 2013, representing 40% to 45% year-over-year decline. Analysts expect the company to report revenues of US$30.41 million for the first-quarter.