Platoon Interactive (PTON) Shares fell lower Thursday after the bicycle and treadmill maker posted a surprising fourth-quarter loss and a major drop in sales, warning that conditions in the connected fitness market would remain “challenging” for the foreseeable future.
Peloton said its adjusted loss for the three months ended March, the group’s fiscal third quarter, was pegged at $3.68, well outside Street’s consensus forecast and more than triple the loss it had recorded in the same period last year. year recorded. The group’s revenues, Peloton said, were down 26.6% from last year to $687.7 million, again excluding analyst estimates of a total of $718.1 million, while operating expenses rose 110% to $7 billion. $1.17 billion.