Investing

China’s Renren Posts Profit (RENN, BIDU, TUDO, SINA, SOHU)

Chinese social networking company Renren Inc. (NYSE: RENN) reported fourth-quarter and full-year earning this morning with a surprising upside on profits. The company is one of many Internet and social networking firms in China. The biggest and probably best known…

By Paul Ausick
Published March 9, 2012, 7:52am ET · 1 min read

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Chinese social networking company Renren Inc. (NYSE: RENN) reported fourth-quarter and full-year earning this morning with a surprising upside on profits. The company is one of many Internet and social networking firms in China. The biggest and probably best known is Baidu Inc. (NASDAQ: BIDU), China’s search leader, and other social networking companies like Tudou Holdings Ltd. (NASDAQ: TUDO), Sina Corp. (NASDAQ: SINA), and Sohu.com Inc. (NASDAQ: SOHU).

Renren posted earnings per ADS of $0.11, compared with expectations of a loss of -$0.02 per ADS. Revenue jumped 57% year-over-year to $31.8 million, in line with the company’s own forecast and the consensus estimate.

Renren’s online advertising revenue grew 66% year-over-year although gross margins narrowed from 80% to 71%.

The company said that 50% of its traffic comes from mobile devices and that it plans to shift its emphasis to mobile apps.

Contact [email protected] for any questions or corrections.

1INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org).2The probability of a member receiving $3,000 is 0.028%. If you don’t make a selection in 45 days, you’ll no longer qualify for the promo. Members must fund their account with a minimum of $50.00 to qualify. The probability percentage is subject to decrease. Members are only eligible for the Stock Award promotion upon opening their first brokerage account; subsequent cash brokerage accounts are ineligible for the promo, including for members with multiple accounts.

3Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.

4There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.
Paul Ausick

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

All articles →