WeWork Posts Narrower Loss In Q2

(RTTNews) - WeWork Inc. (WE) posted a second quarter net loss of $635 million, a 31% improvement year-over-year. Net loss per share was $0.76 compared to a loss of $6.12. On average, four analysts polled by Thomson Reuters expected the company to report a loss per share of $0.58, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was negative $134 million, a $315 million improvement from the prior year period.

Revenue for the second quarter was $815 million, an increase of 37% year-over-year. Revenue using the budgeted foreign exchange rates was $841 million, for the quarter. Analysts on average had estimated $824.31 million in revenue. The company reaffirmed its full year 2022 revenue guidance to $3.4 - $3.5 billion and adjusted EBITDA of negative $400 - $475 million.

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