Renren Q2 Online gaming revenue 22.5 million active users up to 162 million

"TechWeb Report" August 8 News, Renren announced today the second quarter ended June 30, 2012 without the audit financial report. The report shows that Renren's two-quarter net revenue amounted to $44.8 million, with online gaming earning $22.5 million, and a total of 162 million active users.

Earnings figures show that Renren's net revenue for the two quarter was $44.8 million, up 47.5% from a year earlier. Game revenue was $22.5 million, up 122.1% from a year earlier, with gross profit of 27.9 million dollars, up 13.4% from a year earlier. In addition, everyone's social group buying website glutinous Rice Network in the second quarter contributed 3.6 million U.S. dollars net revenue.

In addition, the number of active users for Renren increased from 124 million from June 30, 2011 to 162 million in June 30, 2012. The monthly independent landing users increased from 34 million in June 2011 to 45 million in June 2012, up 31% per cent year-on-year.

"Thanks to the strong growth in the company's gaming business and the Better-than-expected performance of the group buying business, I am pleased that the company's overall revenue exceeded expectations in the second quarter of 2012," said Chen, chairman and CEO of Renren. But at the same time, the brand advertising revenue still faces challenges because of the slowing of China's macroeconomic growth rate, the intensification of competition environment and the continuous transfer of user traffic from PC to mobile end. ”

"Looking to the future, our strategy will continue to focus on the development of the mobile field, and try to include the mobile games, mobile advertising and group buying website glutinous Rice Network of mobile E-commerce, including the different profit models." ”

"Our investment strategy will focus on the construction of mobile ecosystems around real-name social platforms," added Ms. Huang, chief financial officer of Renren. "As our business continues to evolve, we look forward to further growth opportunities while strengthening mobile services." "(Ningmeng)