Beijing – Renren Inc., one of the leading real-name social networking internet platforms in China, has announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2012.

In the fourth quarter of 2012, total net revenues were US$48.8 million, a 48.8% increase from the corresponding period in 2011; online game revenues were US$25.9 million, a 116.5% increase from the corresponding period in 2011; gross profit was US$31.0 million, a 34.2% increase from the corresponding period in 2011; and operating loss was US$28.3 million, compared to an operating loss of US$19.7 million in the corresponding period in 2011.

For the fiscal year of 2012, total net revenues were US$176.1 million, a 49.3% increase from 2011; online game revenues were US$90.2 million, a 113.2% increase from 2011; gross profit was US$109.5 million, a 19.3% increase from 2011; and operating loss was US$91.7 million, compared to an operating loss of US$30.2 million in 2011.

“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. 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. We are encouraged by these advances and will continue to push forward in expanding existing and new mobile opportunities,” commented Joseph Chen, Chairman and Chief Executive Officer.