Peloton’s shares fell sharply on Wednesday after the at-home fitness company posted a wider-than-expected loss and lackluster sales due to a bike recall and seasonality. The stock was down about 10% during premarket trading after the company reported a fourth-quarter loss of $55.9 million, or 30 cents a share, on revenue of $478 million. Analysts had expected a loss of 19 cents a share on sales of $495 million. Peloton said lifetime connected fitness subscribers rose 51% to 1.09 million. Revenue from services fell 11% to $118 million, due to the recall of one of the company’s treadmills. It also noted the typically stronger fourth quarter was “more challenging” due to seasonality.
