ContextLogic Stock Is Tumbling After Hours: What's Happening?
Portfolio Pulse from Adam Eckert
ContextLogic Inc (WISH) reported Q2 revenues of $78 million, missing estimates of $94.25 million, and a loss per share of $3.38, beating estimates of a $3.74 loss. Revenues were down 42% YoY, with core marketplace volumes down 56%, product boost revenues down 45%, and logistics revenues down 30%. The company expects Q3 revenue to be between $55 million and $65 million, and an adjusted EBITDA loss of $55 million to $65 million. WISH shares were down 11.10% after hours.
August 04, 2023 | 2:42 pm
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ContextLogic's Q2 results missed revenue estimates and reported a significant YoY decrease. The company's Q3 outlook is also weak, which led to a drop in its stock price.
ContextLogic's Q2 results missed revenue estimates and reported a significant YoY decrease. The company's Q3 outlook is also weak, indicating continued challenges. This negative news led to a drop in its stock price after hours.
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