Pandemic darling Peloton’s stocks plunge 18% as it reveals it lost staggering $750M in last quarter


Pandemic darling Peloton’s stocks have plummeted nearly 90 percent over the past year, as company executives revealed on Tuesday that it lost a staggering $750 million in the last quarter due to unsold inventory and mounting costs. 

The company lost $757.1 million for the three months of 2022, amounting to about $2.27 per share. And when stripping out nonrecurring items from the equation, a survey by Zacks Investment Research, it lost 98 cents per share – outpacing projections of a…



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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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Pandemic darling Peloton’s stocks plunge 18% as it reveals it lost staggering $750M in last quarter


Pandemic darling Peloton’s stocks have plummeted nearly 90 percent over the past year, as company executives revealed on Tuesday that it lost a staggering $750 million in the last quarter due to unsold inventory and mounting costs. 

The company lost $757.1 million for the three months of 2022, amounting to about $2.27 per share. And when stripping out nonrecurring items from the equation, a survey by Zacks Investment Research, it lost 98 cents per share – outpacing projections of a…



Read the Full Article Here dailymail

Share:

Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

Leave a Reply

Your email address will not be published.

Hunter’s lawyer who paid off $2 million in overdue taxes flew to Serbia to spy on My Son Hunter set

Captain Tom Moore gin pulled from sale after ‘breach of charity law’