WeWork reports Q4 EPS (59c), consensus (41c)

Reports Q4 revenue $848M, consensus $873.83M. Physical Memberships increased by 17% year-over-year on a consolidated basis. Consolidated physical occupancy increased to 75% at the end of the fourth quarter. "Our fourth quarter results demonstrate that we accomplished what we set out to do in fiscal year 2022 by staying focused on reducing expenses, optimizing our portfolio, growing revenue, and increasing occupancy. As a result, we crossed a historic milestone of achieving Adjusted EBITDA profitability in December – a testament to the hard work of our employees and the enduring value of our products," said Sandeep Mathrani, CEO and chairman of WeWork. "As we move forward, we remain committed to building on this momentum while also enhancing our balance sheet."