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
6 hours, 28 minutes ago
King and Flexion partner to bring Candy Crush Saga to App Gallery and more alternative app stores
News
7 hours, 23 minutes ago
Zynga’s Game of Thrones: Legends is open for pre-registrations with a July 25th release date
Feature
9 hours, 45 minutes ago
Mobile Mavens: Are today's everlasting, live ops games holding back new innovation?
Feature
11 hours, 13 minutes ago
The key takeaway from Apple's AI-laden WWDC keynote? It's time to buy a new iPhone
Events
Tribeca Games Festival 2024 | North America | Jun 5th |
Steam Next Fest: June 2024 Edition | Jun 10th | |
WN Conference Istanbul 2024 | Jun 11th | |
GamesForum Hamburg 2024 | Europe | Jun 11th |
ESI London 2024 | Europe | Jun 13th |
Game Con Canada (GCC) 2024 | North America | Jun 14th |
Indie Dev Play 2024 | Europe | Jun 14th |
DevGAMM Vilnius 2024 | Europe | Jun 14th |
Popular Stories
Interview
Jun 5th, 2024
A galaxy far, far away… Why Star Wars: Hunters took six years to hit the target
as
Feature
Jun 3rd, 2024