Wish 4Q Revenue Falls Ahead of Pending Asset Sale

Dow Jones

Mar 05, 2024

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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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.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"希望4Q收入在待售资产前下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WISH":0.9},"content_text":"By Ben Glickman \n\n\n \n\n\n  Wish parent company ContextLogic posted lower revenue in the fourth quarter with the company awaiting the close of its previously-announced asset sale. \n\n\n  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. \n\n\n  Revenue fell 57% to $53 million. Core marketplace revenue was down 58%, while logistics revenue was down 57%. \n\n\n  Wish said based on preliminary results it had revenue of $14 million in January. \n\n\n   The company said in February that it would sell substantially all of its assets to e-commerce platform Qoo10 for $173 million. \n\n\n  Wish said it won't provide guidance or host a conference call due to the pending transaction. \n\n\n \n\n\n  Write to Ben Glickman at ben.glickman@wsj.com \n\n\n  (END) Dow Jones Newswires\n\n\n  March 04, 2024 16:20 ET (21:20 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}