Renren’s Monthly Unique Log-in Users Down to 54 Million in Q2 2014

Renren’s total net revenues聽for the second quarter of 2014 were US$25.0 million, representing a 42.4% decrease from the corresponding period in 2013 according to Renren unaudited financial report.

Renren net revenues聽were US$15.1 million, representing a 26.7% decrease from the corresponding period of 2013. Within Renren net revenues, online advertising revenues were US$11.7 million for the second quarter of 2014, a 23.9% decrease from the corresponding period of 2013.

Internet Value-Added Services (IVAS) revenues were US$3.4 million, representing a 35.0% decrease from the corresponding period in 2013. Monthly unique log-in users decreased from approximately 54 million in June 2013 to approximately 44 million in June 2014.

Games net revenues聽were US$9.9 million for the second quarter of 2014, a 56.6% decrease from the corresponding period of 2013. Renren.com had approximately 214 million activated users as of June 30, 2014.

The Company expects to generate revenues in an amount ranging from US$19 million to US$21 million in the third quarter of 2014, representing a 48.9% to 53.8% year-over-year decline.