Renren: Loss Up 423% YoY To USD 13.6 Mn In Q1

The 2012Q1 report of Renren Inc. shows that the company’s net operating revenue was USD 32.1 million, up 56.1% year-on-year. However, the company recorded a net loss of USD 13.6 million, up 423% compared with USD 2.6 million in 2011Q1. In the first quarter, Renren’s revenue from online advertisement was USD 9.3 million, up 14.8% year-on-year, while its operating cost rose 206.6% year-on-year to USD 12.5 million.

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