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Evening Standard
Evening Standard
Business
Mark Banham

WeWork loses $500 million in three months despite sales rise

WeWork Anne Hathaway Jared Leto Apple TV+ United States

Jared Leto and Anne Hathaway in WeCrashed. the Apple TV adaptation of the WeWork story

(Picture: Apple TV)

Co-working space pioneer WeWork lost $504 million (£412 million) in the first three months of the year but claimed it is on the road to making money.

Revenue in the first quarter rose 28% year-on-year to hit $765 million as sales of desks at its shared offices, minus franchise locations, hit the highest level since 2020. But losses persisted as the company continues to struggle for profitability.

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