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Peloton on Thursday reported a wider-than-expected loss in the fiscal third quarter, but pointed to signs of progress with its turnaround plan.
The company reported connected fitness subscription growth and a reduction of free cash flow losses. It also said new initiatives are resonating with customers, including a push to sell lower-priced, pre-owned bikes and a rent-to-buy program for fitness equipment.
Peloton shares bounced around in pre-market trading, as investors weighed the report.
Here’s how the connected fitness equipment company did in the three months that ended March 31 compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:
- Loss per…
Source cnbc.com
