Peloton Posts $241.8M Q4 Loss, but Subscriber Numbers Show Growth
Peloton reported its fourth-quarter 2023 results on August 23rd, posting a wider-than-expected loss but beating revenue expectations. The connected fitness company's net loss was $241.8 million, or 68 cents per share, compared to $1.26 billion a year ago. Revenue was $642.1 million, down from $678.7 million a year ago. Peloton ended the quarter with 3.08 million connected fitness subscribers, up 4% year-over-year but down 29,000 from the previous quarter. Factors affecting Peloton's results included the traditional seasonal slowdown in summer, the recall of some of its Bike products, and consumers shifting spend towards travel as pandemic restrictions eased.
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00:00 It's Benzinga and here's what's on the block.
00:02 Peloton reported its fourth quarter 2023 results on August 23rd, posting a wider than expected
00:07 loss but beating revenue expectations.
00:10 A connected fitness company's net loss was $241.8 million or 68 cents a share compared
00:15 to a loss of $1.26 billion a year ago.
00:18 Revenue was $642 million down from $678 million a year ago.
00:22 Peloton ended the quarter with 3.8 million connected fitness subscribers, up 4% year
00:26 over year, but down $29,000 from the previous quarter.
00:30 Factors affecting Peloton's results included the traditional seasonal slowdown in summer,
00:34 the recall of some of its bike products, and consumers' shifting spend towards travel
00:38 as pandemic restrictions ease.
00:40 For all things money, visit Benzinga.com.
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