Brief: WeWork - Consolidated New Desk Sales Totaled 98,000 In Q2, Equating To 5.9 Million Square Feet Sold In Q2

Wework

13/08/2021 13:35

Aug 13 (Reuters) - BowX Acquisition Corp  BOWX.O :
    * WEWORK - CONSOLIDATED NEW DESK SALES TOTALED 98,000 IN Q2,
EQUATING TO 5.9 MILLION SQUARE FEET SOLD IN Q2
    * WEWORK - CONSOLIDATED TOTAL OCCUPANCY INCREASED TO 52% IN
Q2
FROM 48% IN Q1
    * WEWORK - TOTAL REVENUE FOR QUARTER ENDED AT $593 MILLION
    * WEWORK - ENDED Q2 WITH $1.6 BILLION IN CASH AND UNFUNDED
CASH
COMMITMENTS
    * WEWORK - NET LOSS OF $923 MILLION IN QUARTER
    * WEWORK - DEMAND FROM BUSINESSES OF ALL SIZES ACCELERATED
THROUGH
QUARTER AND STEADILY CONTINUED INTO JULY
    * WEWORK - PRELIMINARY JULY REVENUE EXPECTED TO BE
APPROXIMATELY
$215 MILLION, WHICH PUTS WEWORK IN A POSITION TO ACHIEVE $650 -
$700 MILLION IN Q3

Source text for Eikon:  ID:nBw6w3330a 
Further company coverage:  BOWX.O 

 ((Reuters.Briefs@thomsonreuters.com;))