Peloton’s Q2 2023 losses were the narrowest they have been since 2021. | Illustration by Alex Castro / The Verge
“If you’ve been wondering whether or not Peloton can make an epic comeback, this quarter’s results show the changes we’re making are working,” Peloton CEO Barry McCarthy wrote Wednesday in an investor letter accompanying the company’s Q2 2023 earnings report.
McCarthy is no stranger to bold claims, but a year after taking the helm of the troubled company, it seems like the numbers are starting to back him up. In its Q2 2023 earnings report, Peloton reported a loss of $335.4 million compared to $439.4 million this time last year. On the surface, a loss doesn’t seem like a win — especially since it’s Peloton’s eighth consecutive quarter without turning a profit. However, it’s the narrowest loss Peloton’s reported ever since it started…
