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Peloton Interactive Inc. stationary bicycles sit on display at the company’s showroom on Madison Avenue in New York, U.S., on Wednesday, Dec. 18, 2019.
Jeenah Moon | Bloomberg | Getty Images
Peloton said Thursday its fiscal fourth-quarter loss widened as the pace of revenue growth slowed dramatically and costs associated with a treadmill recall mounted.
Shares were down about 6% in extended trading on the news, after initially falling as much as 15%.
Peloton warned that its earnings will be hurt in the near term because it’s slashing the price of its original Bike machine by about 20%. It’s also beginning to shift its business mix back toward treadmill sales, which are less profitable than…
Source cnbc.com
