SEC Flags Benchmark That Obscured WeWorkâs Bottom Line
PYMNTS
DECEMBER 3, 2019
The company used generally accepted accounting principles (GAAP) to essentially turn a $1.9 It ignores fixed costs, however, expenses a business would have to pay regardless of generated revenue, Bob Pozen, former vice chairman of Fidelity Investments told Bloomberg. billion net loss into a $142 million profit.
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