Shares of Peloton Interactive Inc. were tumbling more than 18% in Wednesday’s premarket trading after the maker of connected fitness equipment came up short...
Shares of Peloton Interactive Inc.
were tumbling more than 18% in Wednesday’s premarket trading after the maker of connected fitness equipment came up short with its revenue outlook and disclosed higher-than-expected costs from a previously announced recall. The company logged a fiscal fourth-quarter net loss of $242 million, or 68 cents a share, whereas it lost $1.26 billion, or $3.72 a share, in the year-before quarter. Analysts tracked by FactSet were expecting a 40-cent per-share loss.
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