World of Hyatt and Peloton Team Up with Plans to Reward Members for Wellbeing
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Peloton (PTON) to lay off 15% of global workforce, CEO to step down
May 2, 2024 7:37 AM EDT(Updated - May 2, 2024 9:59 AM EDT)
Peloton (NASDAQ: PTON) shares opened higher Thursday before giving up those gains and more after the company announced cost-cutting measures and a change in its top leadership. The fitness equipment and media company reported third-quarter earnings that fell short of analyst expectations by $0.09, posting an adjusted loss per share of -$0.45 compared to the estimated -$0.36. Despite this, revenue for the quarter was nearly in line with consensus estimates, totaling $717.7 million against an expected $718 million.
The company's revenue declined from the same quarter last year, when it reported... More
