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Peloton quarterly revenue drops on weak demand -Breaking

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© Reuters. FILE PHOTO : After the ringing of IPO bells at New York’s Nasdaq Market, September 26, 2019, a Peloton fitness bike is seen. REUTERS/Shannon Stapleton

(Reuters) – Peloton Interactive, (NASDAQ:) Inc posted a 23.6% drop in its third quarter revenue Tuesday. This was due to lower demand for stationary exercise bikes as well as tread machines by fitness enthusiasts who returned to the gyms after pandemic restrictions eased.

Revenues from interactive fitness equipment manufacturers fell by $964.3 Million to $1.26 Billion a year ago.

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