Exercise bike maker Peloton Interactive Inc raised its forecast for full-year revenue on Wednesday, as 'stay at home' orders due to the COVID-19 ...
REUTERS: Peloton Interactive Inc raised its forecast for full-year revenue on Wednesday as"stay at home" orders encouraged more people to buy the company's exercise bikes and fitness subscriptions plans.
Peloton said it now expects fiscal year revenue to be in the range of US$1.72 billion to US$1.74 billion, compared with an earlier forecast of US$1.53 billion to US$1.55 billion. The loss-making company, which also offers on-demand exercise videos, said that it entered the fourth quarter with a backlog of bike deliveries in all geographies and that its sales continue to surpass expectations.Peloton also forecast fourth-quarter revenue of US$500 million to US$520 million, well above the average analyst estimate of US$383.26 million.
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