Peloton Interactive Inc. shares PTON, -3.47% were tumbling 19% in premarket trading Thursday after the maker of connected fitness equipment saw its losses narrow but forecast significantly lower revenue for the holiday quarter than analysts had anticipated. The company reported a fiscal first-quarter net loss of $409 million, or $1.20 a share, compared with a loss of $376.0 million, or $1.25 a share, in the year-prior quarter. The FactSet consensus was for a 67-cent loss per share.
4 million, compared with $233.7 million a year before. The FactSet consensus was for a $112 million Ebitda loss. Revenue declined to $617 million from $805 million, while analysts had been anticipating $637 million. For the fiscal second quarter, executives anticipate $700 million to $725 million in revenue, while the FactSet consensus was for $866 million. Peloton's leadership is also targeting a loss on the basis of adjusted Ebitda of $110 million to $115 million.
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