The future of the company will try Glutinous Rice network mobile E-commerce business profit model

Chen, chairman and chief executive officer of everyone Company

"Thanks to the strong growth of 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." Chen said.

Earnings showed that the second quarter of glutinous rice net revenue of 3.6 million U.S. dollars, operating expenses of 500,000 U.S. dollars, operating expenses of 10.3 million U.S. dollars, according to this calculation, the second quarter of glutinous rice net loss of 7.2 million U.S. dollars;

Billion power network learned that the same period last year, glutinous rice net operating income of 1.1 million U.S. dollars, operating expenses of 5.6 million U.S. dollars, net loss of 4.5 million U.S. dollars.

Chen said the future of Renren's strategy is to continue to focus on the development of mobile, and try to include 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 Huang, chief financial officer of Renren. "As our business continues to evolve, we look forward to further growth opportunities while strengthening mobile services." ”

Earnings showed that Renren's total net revenue for the second quarter was $44.8 million, up 47.5% from a year earlier, and a net loss of $24.9 million trillion, with a net profit of $800,000 over the same period last year.