Peloton Interactive Inc on Thursday lowered the price of its exercise bike and said its near-term profitability would take a hit due to the pricing change and higher costs.
A Peloton exercise bike is seen after the ringing of the opening bell for the company's IPO at the Nasdaq Market site in New York City, September 26, 2019. REUTERS/Shannon Stapleton/File Photoon Thursday lowered the price of its exercise bike and said its near-term profitability would take a hit due to the pricing change and higher costs.
Net loss attributable to Class A and Class B shareholders was $313.2 million, or $1.05 per share, compared with a profit of $89.1 million, or 27 cents per share, a year ago.Sign up for our newsletter Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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