Peloton Shares Slumped Over 20% As Revenue Outlook Falls Short

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Peloton Shares Slumped Over 20% As Revenue Outlook Falls Short

Reuters2023-08-23

Aug 23 (Reuters) - Peloton Interactive Inc on Wednesday forecast first-quarter revenue below Wall Street estimates as demand for its exercise equipment wanes.

Peloton shares slumped over 20% after posting financial results.

The company now expects first-quarter revenue between $580 million and $600 million, below analysts' average estimate of $655.9 million, according to Refinitiv data.

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