Peloton CEO Says 100 Million Members Is the Goal
When Peloton (NASDAQ: PTON) reported its fiscal 2022 third-quarter financials (ended March 31) on May 10, unsurprisingly, investors were immediately disappointed with a 23.6% revenue decline and a net loss of $757 million. Struggling to regain solid footing amid softer demand is proving to be a major challenge.
This once-booming fitness stock, down 84% over the past 12 months, has certainly seen better days. But Barry McCarthy, the new CEO, has set his sights on an audacious goal. He believes Peloton can one day amass 100 million members.
Continue reading to find out why this could happen and why it couldn't.
Source Fool.com
