Brief: Wework Announces Preliminary Q3 Business Updates

Wework

07/10/2021 17:35

Oct 7 (Reuters) - WeWork: 
    * WEWORK, WHICH IS MERGING WITH BOWX ACQUISITION CORP, SAYS
TOTAL
OCCUPANCY CONTINUED TO TREND UPWARDS AT 60% AS OF END OF
SEPTEMBER 
    * WEWORK PROVIDES INVESTOR DAY HIGHLIGHTS, ANNOUNCES
PRELIMINARY
Q3 BUSINESS UPDATES
    * WEWORK - PRELIMINARY TOTAL REVENUE FOR Q3 WAS $658
MILLION, WITH
$228 MILLION IN REVENUE IN SEPTEMBER
    * WEWORK - BOWX MERGER ON TRACK TO CLOSE ON OR ABOUT OCTOBER
21,
2021, SUBJECT TO BOWX STOCKHOLDER APPROVAL
    * WEWORK - ALL ACCESS AND VIRTUAL MEMBERSHIPS INCREASED TO
32,000
IN Q3, UP FROM 20,000 IN Q2 2021
    * WEWORK - CONSOLIDATED GROSS DESK SALES TOTALED 154,000 IN
Q3, OR
9.2 MILLION SQUARE FEET SOLD
    * WEWORK - AS OF Q2 2021, WEWORK HAS REDUCED LOCATION
OPERATING
EXPENSES BY $400 MILLION ON A PER SQUARE FOOT BASIS COMPARED TO
Q4 2019

Source text for Eikon:  BwbxYhYka 
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 ((Reuters.Briefs@thomsonreuters.com;))