10 Mar / 2017

Everyone’s third quarter net loss of 22 million 800 thousand narrowed

Tencent technology, according to foreign reports, the company (NYSE: RENN) on Thursday released the company’s unaudited financial report for the third quarter ended September 30, 2016. Reported that the company’s net operating income for the quarter was $17 million 900 thousand, an increase of 102.8% over the same period last year, a net loss of $22 million 800 thousand, a net loss of $73 million 100 thousand over the same period last year.

third quarter results summary:

– everyone’s third quarter net operating income of $17 million 900 thousand, an increase of 102.8% over the same period last year.

– Renren third quarter advertising and Internet value-added services net operating income of $9 million 600 thousand, an increase of 31% over the same period last year. Among them, the online advertising revenue was $100 thousand, compared to the same period last year, revenue of $1 million 500 thousand. Internet value-added services revenue was $9 million 500 thousand, an increase of 65.3% over the same period last year. The main reason for the growth is due to the growth of new business broadcast revenue. In 2016 9 month independent user login for 35 million months over the same period last year to 45 million independent user login; users online time average monthly growth of 17.5% over the previous year.

– everyone in the third quarter of the Internet financial business net operating income of $8 million 300 thousand, a net operating income of $1 million 500 thousand a year earlier. The balance of the Internet financial claims also increased from $109 million 700 thousand in September 30th last year to $268 million 300 thousand in September 30, 2016.

– the company’s third quarter operating costs of $14 million 400 thousand, an increase of 88% over the same period last year.

– total operating expenses for the third quarter totaled $22 million 100 thousand, down from $9.3% a year earlier. Among them, the company’s third quarter sales and marketing expenses of $6 million, representing a decrease of 19.5% over the same period last year. The main reason for the decline is the reduction in sales and related costs. Research and development expenses of $5 million 500 thousand, representing a decrease of 36.6% over the same period last year, mainly due to the reduction of R & D personnel and related costs. General and administrative expenses were $10 million 700 thousand, representing a growth of 28.1%.

– the company’s third quarter employee option costs $5 million 500 thousand, the same period last year, the employee option costs $4 million 900 thousand, all included in operating expenses.

– the company’s third quarter operating loss of $18 million 600 thousand, operating loss of $23 million 200 thousand for the same period last year.

The short-term investment losses realized

— everyone’s third quarter of $100 thousand, short-term investment losses over the same period last year was $49 million 700 thousand; long-term equity investment losses of $1 million 300 thousand over the same period last year, long-term equity investment income was $1 million 300 thousand.

– everyone’s third quarter net loss of $22 million 800 thousand, the same period last year

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