ContextLogic (NASDAQ: WISH), the parent company of the e-commerce marketplace Wish, posted its fourth-quarter earnings report on March 1.
Its revenue declined 64% year over year to $289 million, missing analysts estimates by $21 million and marking its third straight quarter of declining revenue. But, it still narrowed its net loss from $569 million to $58 million, or $0.09 per share, which beat expectations by a penny. On an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) basis, Wish narrowed its loss from $118 million to $23 million.
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