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.
Industry RealEstateDevelopment