Peloton Cuts Sales Outlook; Stock Tumbles

Feb 1, 2024

Peloton cut its outlook for the year after reporting another drop in revenue, despite gaining subscribers. The fitness-equipment company on Thursday posted a 6.2% decline in quarterly revenue, as it continues to deal with lower sales of bikes and other fitness products. Peloton ended the period with 3 million paid connected fitness subscribers, slightly ahead of management’s expectations.

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