Peloton (PTON) posts wider-than-expected loss, but beats revenue and guidance expectations
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Peloton shares nosedive after wider loss, dour membership forecastÂ
May 4, 2023 7:43 AM EDTBy Kannaki Deka
(Reuters) - Peloton Interactive Inc reported a wider-than-expected quarterly loss and warned it expects to sign up fewer members for the year, raising concerns about the fitness equipment maker's growth prospects.
Shares of the company fell 15% in morning trading after initially rising on stronger-than-expected forecast for fourth-quarter revenue. Last year, the pandemic darling had tanked 78% as demand for its bikes slumped with people returning to gyms.
The company's revenue from sale of connected... More
Peloton (PTON) Misses Q3 EPS by 31c, Revenue Beats, Guidance Tops Views
May 4, 2023 7:12 AM EDTPeloton (NASDAQ: PTON) reported Q3 EPS of ($0.79), $0.31 worse than the analyst estimate of ($0.48). Revenue for the quarter came in at $748.9 million versus the consensus estimate of $710.79 million.
GUIDANCE:
Peloton sees Q4 2023 revenue of $630-650 million, versus the consensus of $614.4... More
