Investment News

Peloton raises supply chain investment after product delays

Posted on

Peloton failed to wow investors with its holiday quarter results, sending its stock down nearly 8 per cent in after-hours trade as the group said it continued to struggle to deliver its flagship bike and treadmill products in a timely manner.

The connected spinning bike pioneer said revenues last quarter grew 128 per cent to $1.06bn, a nudge ahead of forecasts at $1.03bn. It produced a net profit of $63.6m — its third quarterly profit in a row — versus a loss of $55.4m a year ago.

Peloton pledged it would spend $100m on air freight and expedited ocean freight

Read More