WeWork Posts Narrower Loss In Q1; Revenue Up 11%

(RTTNews) - WeWork Inc. (WE) posted a first-quarter net loss attributable to company of $264 million compared to a loss of $435 million, prior year. Loss per share was $0.34 compared to a loss of $0.57. On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $0.34, for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenue for the first quarter was $849 million, an increase of 11% year-over-year. Analysts on average had estimated $849.36 million in revenue.

The company expects second quarter revenue to be $840 million to $865 million. Consolidated physical occupancy was 73% at the end of the first quarter, an increase from 67% at the end of the first quarter of prior year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.