Shares of Peloton drop after the exercise bike fitness startup forecasted a loss for fiscal 2020 and said it was choosing to focus on growth over profit for now
- Shares in exercise bike fitness startup Peloton Interactive PTON.O sank 7% on Tuesday as the newly listed firm forecast a loss for fiscal 2020 and said it was choosing to focus on growth over profit for now.
Peloton, which posted a bigger-than-expected quarterly loss, said it expects to report an adjusted loss of between $150 million and $170 million before interest, tax, depreciation and amortization for 2020. “I believe if we pulled back on growth we could be profitable tomorrow but that is not what the board and the leadership of Peloton believes we should do.”
France Dernières Nouvelles, France Actualités
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