Peloton Posts Wider Loss In Q4; Total Revenue Down 28%

(RTTNews) - Peloton Interactive, Inc. (PTON) posted an operating loss of $1.20 billion in fourth quarter. The company noted that $415 million of the loss was related to restructuring charges.

Net loss attributable to class A and class B common stockholders was $1.24 billion compared to a loss of $313.2 million, last year. Loss per share was $3.68 compared to a loss of $1.05.

Total revenue was $678.7 million, down 28% from prior year. Connected Fitness revenue was $295.6 million, down 55%. The company said the primary driver of the year-over-year revenue decline was a reduction in consumer demand exiting the pandemic's peak. Subscription revenue was $383.1 million, up 36% year-over-year.

For the first quarter, the company expects: total revenue in a range of $625 million to $650 million.

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Shares of Peloton Interactive are down 16% in pre-market trade on Thursday.