ContextLogic (NASDAQ: WISH), the parent company of the e-commerce company Wish, recently posted its third-quarter earnings report.
Wish's revenue declined 39% year-over-year to $368 million, which missed estimates by $6 million. However, its net loss narrowed from $99 million to $64 million, or $0.10 per share, which beat expectations by a nickel.
Wish didn't provide any exact guidance, but warned that its revenue would decline sequentially in the fourth quarter even after factoring in holiday sales. It also announced that its founder and CEO Piotr Szulczewski would step down next February but remain on the company's board.
Source Fool.com