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Peloton Slides After Outlook Dashes Hopes for Quick Comeback

  • Fitness company reports deeper loss and slashes forecast
  • Former pandemic darling is pursuing turnaround under new CEO
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Peloton Signs JPMorgan, Goldman Deal as Losses Mount
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Peloton Interactive Inc. tumbled 8.7% to a record low after the fitness company reported a deeper loss than predicted and cut its revenue guidance, dashing hopes that the onetime pandemic darling will soon pull out of a slump. 

After posting disappointing quarterly results Tuesday, Peloton offered an outlook with little to relish: Demand for its once-hot stationary bikes continues to soften, and some subscribers may balk at proposed price increases. Shipping costs also are squeezing margins, and the company will likely be mired in losses for years.