Updated at 11:12 am EST Peloton Interactive ( PTON ) shares moved firmly higher Wednesday after the fitness equipment maker posted a wider-than-expected second quarter loss but noted that its subscription business outpaced hardware sales as the group's turnaround continues to gather momentum. Peloton said its adjusted loss for the three months ending in December, the group's fiscal second quarter, was pegged at 98 cents per share, well outside the Street consensus forecast of 64 cents share but inside last year's loss of $1.36. Group revenues, Peloton said, fell 29.8% from last year to $792.7 million, but topped analysts' estimates of a $710.5 million tally as sales from subscriptions -- pegged at $411.3 million -- overtook hardware for the third quarter in succession. Looking into the current quarter, Peloton said it sees revenues in the region of $690 million to $715 million, with connected fitness subscribers of around 3.085 million.