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Jules Financial Enterprise

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: ContextLogic stock rises as revenue tops Street view

Economy, Finance

ContextLogic Inc. WISH shares rose in the extended session Monday after the parent company of mobile e-commerce platform Wish reported revenue and a forecast above Wall Street expectations in the company’s first quarterly results since going public. ContextLogic shares rose about 7% after hours, following a 10% drop in the regular session to close at $15.94. The company reported a fourth-quarter loss of $569 million, or $3.04 a share, compared with a loss of $124 million, or $1.20 a share, in the year-ago period. Revenue rose to $794 million from $576 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of $2.27 a share on revenue of $736.1 million. ContextLogic forecast revenue of $735 million to $750 million for the first quarter, while analysts had estimated revenue of $669.2 million. ContextLogic’s stock went public in mid-December, pricing at $24 a share.

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