Peloton shares fall after it posts wider-than-expected loss, falling sales due to Bike recall, seasonality
Peloton on Wednesday reported a wider-than-expected loss and a quarterly drop in new subscribers that it blamed on its recall of its Bike seat post and seasonality, sending shares plunging about 20%.
Peloton on Wednesday reported a wider-than-expected loss and a quarterly drop in new subscribers that it blamed on its recall of its Bike seat post and seasonality, sending shares plunging about 20%.
The company fell short of analysts’ earnings estimates but beat sales expectations.
Here’s how the fitness company did in its fourth fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:
The company reported a net loss of $241.8 million, or 68 cents per share, for the three-month period that ended June 30, compared with a loss of $1.26 billion, or $3.72 a share, a year earlier.
Sales dropped to $642.1 million, down $678.7 million a year earlier.
Rating: 5