Troubled fitness equipment provider Peloton has spooked investors with a weak outlook for the holiday quarter. The company announced revenue of between $700 million and $725 million on Thursday, well below market expectations.
The stock temporarily fell by almost 20 percent before the market. Peloton had experienced a boom at the beginning of the pandemic, but then fell into a severe crisis. In the past first business quarter, the New York company’s net loss increased by nine percent year-on-year to $408.5 million. Sales fell by 23 percent to $ 616.5 million.