Peloton on Tuesday slashed its financial outlook for the full year after the company announced CEO John Foley will be stepping down, as part of a broader restructuring of the business.
It now sees fiscal 2022 revenue within a range of $3.7 billion to $3.8 billion, down from a prior range of $4.4 billion to $4.8 billion.
The company said it expects to end the year with about 3 million connected fitness subscribers, versus previous estimates of 3.35 million to 3.45 million.
Source: CNBC
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