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Fourth-quarter revenue dropped nearly 30% from a year ago. The CEO reiterated that the maker of connected fitness equipment is taking steps to shore up finances.
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Peloton Interactive Inc. racing to save itself, will reject a number of the most fundamental components of its decade-old enterprise model.
The as soon as-hot maker of related health equipment posted losses of extra than $1.2 billion inside the most recent area as sales plunged and the company warned it would spend more coins than it brings in for numerous greater months. Peloton lost $2.Eight billion in the yr ended June 30, compared with a $189 million loss inside the previous year.
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