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Peloton
posted a worse-than-expected holiday quarter on Thursday after shoppers failed to shell out for its new AI-driven product line and turned away from higher subscription prices.
The connected fitness company missed Wall Street’s estimates on the top and bottom lines and fell short of its own internal sales targets in the three months ended Dec. 31 – typically the strongest for Peloton’s hardware revenue.
The company said it expects sluggish sales to continue in the current quarter. Peloton forecasts revenue between $605 million and $625 million, below expectations of $638 million, according to LSEG.
