Peloton Cuts Loss but New Model Sales Fall Short
Net loss narrowed 58% to $38.8 million from a loss of $92.0 million for FQ2 ended Dec. 31, as revenue was off 3% to $656.5 million from $673.9 million on cooler-than-expected sales of the newly launched Cross Training line, dampening other strides in turnaround plans. A delay in delivery times also pushed about $4 million in revenue recognition into FQ3. These impacts pushed Connected Fitness Product sales down 4% to $243.9 million, while Subscription ticked down 2% to $412.6 million, but commercial segment sales grew 10%. Subscription revenue got a partial ... Log in to view full article.