Peloton reports wider-than-expected loss, ‘bad news’ on paid subscriptions
November 2, 2023
Peloton’s sales during its fiscal first quarter were higher than expected but its losses underperformed Wall Street’s expectations.
The connected fitness company, known for its pricey Bike and Bike+, is struggling to convert new users into paid subscribers.
For its holiday quarter, Peloton is expecting revenue of between $715 million and $750 million, an 8% drop at the midpoint compared with the year-ago period. CNBC
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