Reports Q3 revenue $125.0M, consensus $156.0M. "The entire Wish team continued to execute on our foundational pillars during the third quarter. With our business transformation underway, we are beginning to see positive operational results, including a sequential quarterly increase in order volume, declines in refund rates and customer order cancellations, and on-time delivery rate of approximately 92%," said Joe Yan, Wish Interim CEO. "As one of the largest global ecommerce platforms, our goal is to focus on becoming a leader in discovery-driven shopping for high value-for-cost products as well as being a trusted go-to app for our shoppers in seeking both everyday purchases and fun products. Looking ahead, we are committed to leveraging our strengths in data science and predictive capabilities to extensively personalize to shoppers’ preference, serving buyers with access to affordable and high value-for-cost goods from an expanding global merchant base, optimizing our logistics capabilities, and building much stronger operational performance across various teams at Wish. I would also like to thank our employees for their hard work, dedication and all the tough decisions over the last year to make sure we are building a stronger foundation for the next stage of the turnaround."
Published first on TheFly
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