ContextLogic down after lower Q4 revenue

ContextLogic Holdings

02/03/2022 12:13

** Shares of e-commerce co  WISH.O  down 5.2% at $2.15 in
premarket trading
    ** WISH on Tuesday after market close posted a 64% fall in
Q4 revenue to $289 mln, compared with estimates of $309.8 mln,
according to Refinitiv data  urn:newsml:reuters.com:*:nBwrH2Sda
    ** Says sales of its Core marketplace, ProductBoost and
logistics segment were down by 74%, 55% and 40% y-o-y
    ** Co said its restructuring plan includes reducing its
headcount by nearly 15%
    ** "We are also making other cost reductions in order to
right-size the business" - CEO
    ** As of last close, stock had fallen nearly 27% this year

    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))