Game delays hit Renren as it makes a Q2 2013 operating loss of $34.7 million
But promises mobile investment will come good
Net revenues were $49.6 million, up 11 percent year-on-year.
Of these, 88 percent were generated by Renren, with the remainder coming from its social commerce site Nuomi.
Gross profit was up 14 percent to $31.7 million but the company made an operating loss of $34.7 million because of higher costs, particularly in terms of marketing.
This compared to an operating loss of $22.2 million a year ago.
As previously stated, Renren said its performance was due to delays in its games pipeline.
"Although we face short-term monetization challenges, we are on track in executing our strategic priorities for the year aimed at securing our position in the highly competitive mobile internet sector in China," said CEO Joseph Chen.
"In particular, our recent frequent upgrades in Renren mobile app continue to strengthen user engagement. This is a pivotal time to make strong advances in the opportunities we are seeing, as we remain committed to the long-term investments placed on our mobile initiatives."
In terms of its social network, the number of activated Renren users rose from 162 million a year ago to 194 million at the end of the quarter.
As well as the social network and Nuomi, Renren operates Renren Games, and user-generated video sharing website 56.com
The company ended the quarter with cash and equivalents worth $155 million, compared to $207 million six months ago.