New WeWork financials show growing debt in its international unit

ReutersAdam Neumann, CEO of WeWork.We took a deep dive into WeWork International, the British arm of The We Company.WeWork's UK business piled on debt as some of its individual buildings began running at a profit, according to new financial statements filed in London.Revenues at WeWork International rose 90% for the most recent period recorded. But losses increased by 1,000%.WeWork International spends £2 to generate £1 in revenues.However, WeWork offered granular data on individual buildings, which are profitable. They have also reduced the debt load carried by those properties.Overall, WeWork's ever-changing accounting methods have made the company more difficult to understand.A new set of financials published by WeWork on October 10 show the company's "international" unit - focused on the

from Business Insider India https://ift.tt/2o5yK9w