The New York Stock Exchange welcomes WeWork, Inc. (NYSE: WE), right now, Thursday, October 21, 2021, in celebration of its itemizing. To honor the event, Sandeep Mathrani, CEO, and Marcelo Claure, Chairman, joined by NYSE President Stacey Cunningham, ring The Opening Bell®.
WeWork shares have been up greater than 1% in premarket buying and selling on Monday after the corporate reported third-quarter earnings, the corporate’s first report since going public in October.
Total income for the quarter was $661 million, up 11% from the earlier quarter, WeWork stated. The firm additionally noticed a lack of $4.54 per share. That’s an enchancment from the lack of $5.51 per share within the year-ago quarter. No analysts lined WeWork for the third quarter, so there aren’t any estimates to check the outcomes towards.
WeWork went public via a SPAC merger in October, virtually two years after its botched IPO.
When it went public, WeWork was valued at roughly $9 billion, a steep drop from 2019, when it was privately valued at $47 billion by SoftBank Group. That slowly dropped as information of the corporate’s funds unraveled and buyers raised issues over its enterprise mannequin and its founder and then-CEO Adam Neumann.
By the top of September, WeWork stated bodily memberships grew to 432,000 with a 56% occupancy price. As corporations proceed to embrace flexibility, All Access memberships elevated to 32,000 by the top of September or 60% over the earlier quarter.