Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries WeWork reports second-quarter earnings: 'Substantial doubt exists' about staying in business By: FOX Business August 08, 2023 at 19:30 PM EDT WeWork released its second-quarter earnings Tuesday and raised "substantial doubt" about its ability to continue as a going concern, sending shares plummeting. WeWork on Tuesday said there was "substantial doubt" about its ability to stay in business, sending its shares down by nearly 20%. The news came in the company’s second-quarter earnings release which said WeWork had a net loss of $397 million – down from a $635 million loss the year prior. "[C]ombined with increased member churn and current liquidity levels, substantial doubt exists about the Company’s ability to continue as a going concern," the release said. "The Company’s ability to continue as a going concern is contingent upon successful execution of management’s plan to improve liquidity over the next 12 months." AMC EARNINGS REPORT CONFIRMS SUMMER BLOCKBUSTER IS BACK, ‘BARBENHEIMER’ DRIVES ‘EXPLOSIVE’ JULY FOR THEATERWeWork said it has replaced three board members and added another, stating that it was still continuing its search for a permanent CEO after Sandeep Mathrani stepped down in May. CLICK HERE TO GET THE FOX BUSINESS APPThe workspace-sharing startup will host an earnings conference call at 8 a.m. EDT on Wednesday. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
WeWork reports second-quarter earnings: 'Substantial doubt exists' about staying in business By: FOX Business August 08, 2023 at 19:30 PM EDT WeWork released its second-quarter earnings Tuesday and raised "substantial doubt" about its ability to continue as a going concern, sending shares plummeting. WeWork on Tuesday said there was "substantial doubt" about its ability to stay in business, sending its shares down by nearly 20%. The news came in the company’s second-quarter earnings release which said WeWork had a net loss of $397 million – down from a $635 million loss the year prior. "[C]ombined with increased member churn and current liquidity levels, substantial doubt exists about the Company’s ability to continue as a going concern," the release said. "The Company’s ability to continue as a going concern is contingent upon successful execution of management’s plan to improve liquidity over the next 12 months." AMC EARNINGS REPORT CONFIRMS SUMMER BLOCKBUSTER IS BACK, ‘BARBENHEIMER’ DRIVES ‘EXPLOSIVE’ JULY FOR THEATERWeWork said it has replaced three board members and added another, stating that it was still continuing its search for a permanent CEO after Sandeep Mathrani stepped down in May. CLICK HERE TO GET THE FOX BUSINESS APPThe workspace-sharing startup will host an earnings conference call at 8 a.m. EDT on Wednesday.