Real Estate

Lost $1.25 billion on $934 million in revenue

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Corp. Chief Executive Officer Masayoshi Son speaks during a joint announcement with Toyota Motor Corp. to make new venture to develop mobility services in Tokyo, Japan, 04 October 2018.

Alessandro Di Ciommo | NurPhoto | Getty Images

WeWork’s losses continued to mount in the third quarter, reflecting a fast-growth strategy undertaken by ousted CEO Adam Neumann, according to a slide deck the company presented to investors.

The deck showed losses of $1.25 billion (unadjusted), up more than 150% from a loss of $497 million in the same period a year earlier. Revenue almost doubled to $934 million from $482 million. The company also said that occupancy rates had decreased to 79%, its lowest…



Source cnbc.com

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