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Exercise bike manufacturer Peloton reported quarterly results late Thursday.The Associated Press

Exercise bike maker Peloton Interactive Inc. on Thursday warned of near-term supply constraints, as demand for its at-home fitness equipment has shot up due to gym closures during the pandemic.

Peloton shares, which have risen fourfold this year, were down 7 per cent in extended trading, even though the company’s first-quarter results topped Wall Street estimates and it raised the annual revenue forecast.

The exercise bike maker’s Connected Fitness revenue jumped 274 per cent to US$601.4-million in the quarter, while its subscriptions climbed 137 per cent to 1.33 million.

The segment, Peloton’s primary revenue generator, includes interactive fitness equipment with touchscreen that streams live and on-demand classes.

The company raised its 2021 revenue forecast and said revenue would be at least US$3.9-billion, compared with its previous forecast range of US$3.50-billion to US$3.65-billion.

Peloton’s total quarterly revenue surged more than threefold to US$757.9-million. Net profit attributable to Class A and Class B shareholders was US$69.3-million, or 20 cents per share.

Analysts on average had estimated the company would report a profit of 11 cents per share on a revenue of US$734.2-million for the quarter.