WeWork Lost $1.25 Billion in Third Quarter
NYTIMES
The rapid expansion of WeWork’s office-space empire caused the company’s losses to more than double in the third quarter, according to a company presentation. WeWork lost $1.25 billion in the three months that ended in September, up from $497 million in the same period a year earlier, according to the document, obtained on Wednesday by The New York Times. Revenue increased about 94 percent, to $934 million. The numbers show why WeWork’s planned initial public offering flamed out so spectacularl…