(Bloomberg) — Peloton Interactive Inc. tumbled after frustrating investors with a focus on growth rather than profitability.“For us, profitability is a managed outcome,” Chief Executive Officer John Foley said on a call with analysts. “I believe if we pulled back on growth, we could be profitable tomorrow, but that is not what the board and the leadership of Peloton believes we should do.”The stock sank following the call, after being up more than 7% in early trading when the earnings were published.Wall Street is increasingly looking for realistic paths to profitability over growth-at-all-costs. Investors have shunned other IPOs this year …read more
Source:: Yahoo Finance
