By Ben Glickman
Wish parent company ContextLogic posted lower revenue in the fourth quarter with the company awaiting the close of its previously-announced asset sale.
The San Francisco-based e-commerce platform reported a loss of $68 million, or $2.82 a share, in the quarter, compared with a loss of $110 million, or $4.80 a share, a year earlier.
Revenue fell 57% to $53 million. Core marketplace revenue was down 58%, while logistics revenue was down 57%.
Wish said based on preliminary results it had revenue of $14 million in January.
The company said in February that it would sell substantially all of its assets to e-commerce platform Qoo10 for $173 million.
Wish said it won't provide guidance or host a conference call due to the pending transaction.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
March 04, 2024 16:20 ET (21:20 GMT)
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