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Feb 19, 2023
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WeWork (WE, $1.55) issues lower-than-expected revenue

WeWork (WE, $1.55) issues lower-than-expected revenue

WeWork Inc projected quarterly revenue that was below the Street expectations.

The company predicted its current-quarter revenue of $830 million to $855 million, below analysts' expectations of $918.4 million.  WeWork Chief Executive Officer Sandeep Mathrani mentioned that Workforce layoffs of several companies across the U.S. have affected certain locations.

WeWork posted revenue of $848 million for the fourth quarter, missing expectations of $873.8 million (based on Refinitiv data). The company’s adjusted EBITDA came in at a negative -$26 million, vs. loss of -$283 million a year ago.

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