Peloton’s Quarterly Loss Tops $1.2 Billion as Bike, Treadmill Sales Plunge

Peloton Interactive posted a $1.2 billion loss in the most recent quarter and, in a race to save itself, is eschewing some fundamental aspects of its decade-old business model. The once-hot maker of connected fitness equipment said Thursday that its quarterly revenue fell nearly 30% and warned it would spend more cash than it brings in for several more months.

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