Pacific Crown maintains a balanced rating for everyone and the market

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Pacific Crest, the US investment bank, released an investment report today to maintain a "flat" rating for Everyone (Nyse:renn), the Beijing time August 15 Evening News.

The following is a summary of the article content:

Third-quarter earnings forecast slump: Everyone expects third-quarter revenue to reach $48 million trillion, far below what we and Wall Street expect, mainly because new mobile games are postponed to the end of the third quarter or the fourth quarter. We believe that these games will not bring significant revenue before the first quarter of next year.

Sticky rice web expansion and mobile advertising will affect 2014 revenue: Due to enter the new market delayed 1 quarters to 2 quarters, as well as significant revenue contribution, we believe that the growth of glutinous rice net revenue contribution will be in 2014 years. In the third quarter, everyone will also start mobile advertising business. We believe that mobile advertising is still in its infancy and will not bring significant revenue to everyone until the second half of 2014.

Mobile commercialization backwardness affects gross profit margin: We believe that gross profit margins will suffer a negative impact in the second half of 2013, as there is a gap between mobile commercialization and increasing costs.

Valuation: We continue to maintain a "flat with the market" rating for all stocks. (Li Ming)