Renren Reports Q3 Loss Narrows From Year Ago; Sales More Than Double

Renren shares declined 1.2% intraday after the company reported late Thursday a Q3 adjusted loss of $17.3 million compared with a loss of $68.3 million a year ago.

Sales over the three months ended Sept. 30 more than doubled to $17.9 million from $8.8 million a year ago, according to a company statement.

Detailing its outlook, the company said it expects to generate revenues of $18.5 million to $20.5 million Q4, representing a 36.3% to 51.1% year-over-year increase.

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