• ContextLogic Inc. reported Q2 revenue of $656 million versus the consensus estimate of $722.92 million.
• Adjusted EBITDA loss of $67M.
• Q2 GAAP EPS of -$0.18 misses by $0.04.
• Shares-7.4%.

• “Wish has begun executing on initiatives designed to enhance the user experience and increase engagement on the Wish app following second-quarter results that did not meet our expectations,” said Wish Founder and CEO Piotr Szulczewski. “Our goal is to ensure that users love coming to Wish often for an entertaining shopping experience where they find unique products at affordable prices. We expect our focus on enhancing product quality and selection, providing an unmatched fun and entertaining shopping experience, and improving the performance of the app, will drive new user growth, retention and profitability over the long term. We are working hard to improve our performance and are confident that Wish will emerge as a stronger business.”