WeWork posts preliminary Q3 revenue below forecast

Wework

07/10/2021 17:58

** Office-sharing startup WeWork posts preliminary Q3
revenue of $658 mln, below the midpoint of its forecast of $650
mln to $700 mln  urn:newsml:reuters.com:*:nL4N2PK2ZO
    ** Says $228 mln of revenue in September was the highest
monthly revenue recorded in 2021
    ** Across consolidated operations, total occupancy continued
to trend upwards at 60% as of the end of September, up from 52%
at the end of Q2 2021- WeWork
    ** Earlier this year, WeWork agreed to go public in a $9 bln
SPAC deal with BowX Acquisition Corp  BOWX.O  
    ** WeWork says BowX deal is on track to close in October,
subject to BowX stockholder approval
    ** Shares of BowX rose briefly before paring gains to trade
flat

 (Reporting by Shreyasee Raj in Bengaluru)
 ((Shreyasee.Raj@thomsonreuters.com;))