fbpx

WeWork quarterly revenue dips as Delta variant dampens recovery By Reuters


© Reuters. FILE PHOTO: A man walks out of a WeWork space in the Manhattan borough of New York City, New York, U.S., October 4, 2019. REUTERS/Carlo Allegri/File Photo

(Reuters) -Office-sharing startup WeWork said on Friday its second-quarter revenue dipped from the prior quarter, as the emergence of the Delta coronavirus variant resulted in a slower-than-expected recovery for the first half of the year.

The company said it would trim its expectations about the recovery timing for average revenue per member, particularly in the United States and Canada in 2021 and 2022 due to the Delta threat.

The fast-spreading Delta variant and the subsequent tightening of curbs in some places have compounded worries for office space providers, as businesses opt for shorter leases and many employees continue to work remotely.

The move to hybrid-work strategies would help improve sales, the company said, adding that it still expects preliminary July revenue to come in at about $215 million.

Net loss attributable to WeWork was $888.85 million in the quarter ended June 30, compared with $863.83 million a year earlier.

Revenue dipped nearly 1% to $593.48 million in the second quarter from the prior quarter.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published.

^N225 
$26,107.65  $315.82  1.20%  
SGHIF 
$1.57  $0.0000  0.00%  
^HSIL 
$28.78  $0.65  2.21%  
SZNTF 
$0.2006  $0.0000  0.00%  
KOSPI.KS 
$2,292.01  $49.77  2.13%  
AUS.NZ 
$2.87  $0.039  1.34%  
^NSEI 
₹ 15,989.80  ₹ 178.95  1.13%  
FCNBCA.FGI 
$7,945.82  $80.78  1.01%  
EURUSD=X 
$1.02  $0.0087  0.85%  
GBPUSD=X 
$1.19  $0.0026  0.22%  
JPY=X 
$135.92  $0.082  0.06%  
^GSPC 
$3,851.47  $20.08  0.52%  
NDAQ 
$156.99  $0.5  0.32%  
^DJI 
$31,080.98  $113.16  0.37%