Peloton CEO doesn't care that equipment is losing money, sees path forward in the app
Publishing timestamp: 2023-02-01 16:05:44
Summary
Peloton CEO Barry McCarthy told investors that he is not concerned that the company's Bikes, Treads and Rows lost money during the holiday quarter. He touted the company's mobile app, which features on-demand fitness classes from Peloton instructors, and said that the overall profit margin was positive. Peloton shares closed 26% higher Wednesday. McCarthy said his primary goal is to expand Peloton's total market share by reaching a user base that it hasn't been able to access before.
Sentiment: POSITIVE
Tickers: PTON,
Keywords: earnings, barry mccarthy, peloton interactive inc, breaking news: business, business, business news, technology, retail industry,
Source: https://www.cnbc.com/2023/02/01/peloton-ceo-barry-mccarthy-doesnt-care-bikes-treads-lose-money.html