Finance

WeWork reveals huge losses despite revenue leap

By 2018-08-10T07:33:00

Holborn Bars

WeWork, the coworking giant, has released its first set of financial results showing second-quarter sales more than doubled from a year earlier, but that losses rocketed more than four-fold.

The privately held firm, which has long been rumoured to seek an IPO in the near future, said total revenue rose to $421.6m (£330m) from $198.3m in the year-ago quarter as memberships jumped to 268,000 at the end of June from 128,000 a year earlier.

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