Contextlogic Inc Cl A Steady Today At $4.22 After Earnings Miss

Contextlogic Inc Cl A (WISH) said after close Tuesday that it lost $3.35 per share in quarter three 2023.

On the revenue line, the company reported $60 million, beating estimates by $2.7 million.

In the same quarter a year ago, the company lost $5.4 per share on revenue of $125 million.

The stock is steady today at $4.22 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Sell on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Contextlogic Inc Cl A has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 19, putting Contextlogic Inc Cl A in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $3.55 on October 30, 2023 and set a 52-week high on February 13, 2023 at $32.1.

ContextLogic Inc is an online shopping store. The store provides personalized products, clothing products, accessories, gaming products and equipment, cosmetics, plastic products, mobile covers, and other products. Geographically, it derives a majority of revenue from Europe and also has a presence in North America; South America, and other countries.