Chinese real-name social network Renren (NYSE: RENN) has announced its unaudited figures for the 12 months ending 31 December 2012.
Sales were $176 million, up 49 percent year-on-year.
The company posted a operating loss of $92 million, compared to a loss of $30 million in 2011.
Looking forward
The good news for the social network, however, was that its online and mobile gaming division saw annual sales up 113 percent to $90 million.
Its mobile games division has 9 titles live on the Chinese App Store, while its Japan operation has four game live, and new US subsidiary Renren Games USA has just launched its debut title Merlin's Rage.
"2012 was a year of investment and transition for Renren. We navigated through the opportunities and disruptions of mobile internet and came out a stronger mobile-centric company," commented CEO Joseph Chen.
"We made progress in our mobile initiatives by rapidly growing our mobile traffic on Renren, driving significant revenues from mobile-related games and opening up a whole new dimension for mobile commerce on Nuomi."
[source: Renren IR]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
Top Stories
News
Jun 6th, 2024
SocialPeta's evolution: advancing mobile game advertising with AI, Apple Search Ads, and STEAM game insights
News
Jun 6th, 2024
As RPGs and casual genres drastically decline, Monopoly Go! gives casino a 34% revenue surge
Events
Tribeca Games Festival 2024 | North America | Jun 5th |
Guerrilla Collective 2024 | North America | Jun 6th |
Angles 24 Freeplay Conference | Australasia | Jun 6th |
Game Audio Symposium 2024 | Europe | Jun 7th |
Games Growth Summit 2024 | Europe | Jun 7th |
PitchYaGame Live 2024 | Jun 7th | |
Future Games Show 2024 | Jun 8th | |
PC Gaming Show 2024 | Jun 9th |
Popular Stories
Feature
May 29th, 2024
Supercell's big Squad Busters mistake and how they're missing out on millions
News
May 31st, 2024
Week in Views - Squad Busters goes global, broken app stores, and Hill Climb Racing gets the LEGO treatment
as
Feature
Jun 3rd, 2024