Consumer
Peloton Tumbles After Predicting Another Sales Decline
- Wall Street had been projecting a return to revenue increases
- Peloton CEO says biggest challenge remains growing ‘at scale’
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Peloton Interactive Inc. shares tumbled as much as 25% after the company said it expects another sales decline in the current quarter, defying Wall Street predictions for a return to growth.
The fitness technology company projected revenue of $700 million to $725 million during its fiscal third quarter, well short of the $755.6 million that analysts anticipated on average. That will mark a decline from about $749 million in the year-earlier period.