ContextLogic (WISH) Tops Q3 EPS by 4c
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ContextLogic (NASDAQ: WISH) reported Q3 EPS of ($0.10), $0.04 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $368 million versus the consensus estimate of $360.82 million.
Outlook - Q4 2021:
While we are not providing Q4 revenue guidance, we expect Q4 revenue to be below Q3 despite the holidays. This is primarily driven by our ongoing reduction of ad spend during the quarters, resulting in higher ad spend in the beginning of Q3 as compared to the beginning of Q4. Specifically, Q4 revenue through the end of October is down approximately 20% compared to our average monthly revenue in Q3 adjusted for a similar number of days. We expect the following financial results for Adjusted EBITDA in the period presented below (in millions, unaudited):
| Three Months Ended Dec 31, 2021 | ||||||
Adjusted EBITDA | $ | (35 | ) | to | $ | (30 | ) |
% Growth YoY |
| 70 | % | to |
| 75 | % |
* Wish has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) for total Adjusted EBITDA or to forecasted GAAP income (loss) before income taxes for segment Adjusted EBITDA within this earnings release because the company is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence. These items include, but are not limited to: income taxes which are directly impacted by unpredictable fluctuations in the market price of the company's stock. |
For earnings history and earnings-related data on ContextLogic (WISH) click here.
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