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WeWork losses widen to $1.25bn as expansion ramps up

Troubled office-sharing business doubles in size as record number of desks added

NEW YORK (Reuters) -- The We Company, owner of WeWork, said on Wednesday net losses in the third quarter widened to $1.25 billion from $497 million a year earlier as its money-losing shared-office business doubled in size with a record number of desks added to its network.

WeWork opened 97 new sites in the third quarter, its biggest quarterly expansion ever, taking its total number of offices to 625 as of Sept. 30 from 528 at the end of June, a presentation of its earnings that was provided to bondholders showed.

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