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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank : WeWork posts ú1.45bn loss ahead of stock market debut

05/21/2021 | 04:21am EDT

WeWork today posted a £1.45bn first quarter loss as the office-sharing startup prepares for its stock market debut.

The company, which is backed by Japanese tech giant SoftBank, said its quarterly revenue almost halved from a year ago to $598m.

WeWork had originally attempted to go public in 2019, but the move collapsed over concerns about co-founder Adam Neumann’s leadership style.

Neumann has since left, and the firm has gone through a shakeup that has seen employees cut by two thirds since 2019 and businesses sold off.

Read more: FTSE 100 falls despite surging retail sales as Kingfisher drags down index

WeWork has closed around 100 locations and pulled out of non-core ventures, including a wave pool maker and dog walking app.

The business felt the impact of Covid heavily as social distancing rules drove a work from home trend as workers avoided shared office space.

However, WeWork said people are now returning to offices as restrictions are eased, with its occupancy rate up to 50 per cent compared to 47 per cent in the previous quarter.

The company also said it expects the change in working habits to boost demand for the short-term leases it offers.

Read more: Retail sales soared in April as Brits came out of third Covid-19 lockdown

The post WeWork posts £1.45bn loss ahead of stock market debut appeared first on CityAM.

© City AM, source Newspaper

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Financials
Sales 2022 5 953 B 54 205 M 54 205 M
Net income 2022 1 045 B 9 517 M 9 517 M
Net Debt 2022 13 879 B 126 B 126 B
P/E ratio 2022 12,2x
Yield 2022 0,67%
Capitalization 11 554 B 105 B 105 B
EV / Sales 2022 4,27x
EV / Sales 2023 4,12x
Nbr of Employees 58 786
Free-Float 47,1%
Chart SOFTBANK GROUP CORP.
Duration : Period :
SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 6 745,00 JPY
Average target price 11 321,71 JPY
Spread / Average Target 67,9%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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