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Brody Longo works out on his Peloton exercise bike on April 16, 2021 in Brick, New Jersey.
Michael Loccisano | Getty Images
Peloton said Wednesday its net loss narrowed year over year, and, for the third quarter in a row, subscription revenue was higher than sales of the company’s connected fitness products.
CEO Barry McCarthy called the results a possible “turning point” for the business, which has spent much of the past year executing an aggressive turnaround strategy.
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The fitness equipment company’s fiscal second-quarter revenue beat Wall Street’s expectations, but the company posted wider losses per share than expected. Peloton’s stock jumped about 15%…
Source cnbc.com
