WeWork (WE) Reports Q1 Loss of $0.57; Offers FY22 Revenue Guidance
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WeWork Reports First Quarter 2022 Results, Exceeding Revenue Guidance
May 12, 2022 7:00 AM EDTNEW YORK--(BUSINESS WIRE)-- WeWork Inc. (NYSE: WE) ("WeWork"), a leading global flexible space provider, disclosed financial results for its first quarter today.
Revenue in the first quarter of 2022 was $765 million, an increase of 7% quarter-over-quarter and 28% year-over-year, exceeding the Companys previous revenue guidance of $740 - 760 million. The Company enhanced its liquidity profile through a $350 million Junior LC Tranche backed by Brookfield Asset Management and its affiliates as part of the amended LC facility. The Company tightened the range of guidance for second quarter 2022, to $800 - 825 million from $775 - 825... More