Renren records Q4 loss

Renren Inc, a NASDAQ-listed Chinese social networking site, on Monday reported a loss of $21.1 million in the fourth quarter of last year compared with a profit of $44.3 million in the same period of 2011.

The net loss expanded to $75 million in 2012, down from a net profit of $41.3 million in 2011.

According to the report, net revenue in the fourth quarter hit $48.8 million, up 48.8 percent from the corresponding period in 2011, and the total revenues for 2012 rose to $176.1 million from $118 million in 2011, an increase of 49.3 percent over the previous year.

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