Earnings

Peloton (PTON) reports Q1 earnings

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Peloton posted a wider-than-expected loss for its fiscal first quarter, as a steep decline in connected fitness products revenue outweighed an increase in subscription revenue.

The company’s shares gained 8% Thursday. Peloton’s stock has dropped about 75% so far this year.

Here’s how the fitness device maker performed compared with Wall Street estimates, according to Refinitiv.

  • Loss per share: $1.20 vs. 64 cents, expected
  • Revenue: $616.5 million vs. $650.1 million, expected.

Revenue fell 23% compared with the same period last year. Peloton’s revenue outlook for the holiday quarter, between $700 million and $725 million, would mark a quarter-to-quarter increase, but it’s well below analysts’…



Source cnbc.com

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