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Peloton raises revenue forecast as fitness enthusiasts turn to home workouts

May 6 (Reuters) - Exercise bike maker Peloton Interactive Inc raised its forecast for full-year revenue on Wednesday, as “stay at home” orders due to the COVID-19 pandemic encouraged more people to sign up for its fitness subscriptions.

The company said it now expects fiscal year revenue to be in the range of $1.72 billion to $1.74 billion, compared with an earlier forecast of $1.53 billion to $1.55 billion.

The company also raised outlook for Connected Fitness subscribers for the year to 1.04 million to 1.05 million, from its previous estimate of 920,000 to 930,000. (Reporting by Sanjana Shivdas and Devbrat Saha in Bengaluru; Editing by Saumyadeb Chakrabarty)

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