Peloton (PTON) reports fiscal Q1 2022 earnings; shares fall


Jen Van Santvoord rides her Peloton exercise bike at her home on April 07, 2020 in San Anselmo, California.

Ezra Shaw | Getty Images

Peloton shares tumbled more than 25% on Thursday, after the company reported weakening sales growth and a wider-than-expected loss in its fiscal first quarter.

The company slashed its outlook for the full fiscal year amid softened demand for its exercise equipment and ongoing supply chain challenges. More consumers are opting to return to gyms such as Planet Fitness and Equinox, or fitness junkies are purchasing another at-home option from the flurry of companies that sell everything from rowing machines to connected mirrors.

“We anticipated fiscal 2022 would…

Source cnbc.com

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