News Formal

Peloton's stock sinks as earnings outlook fails to impress

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Company was ‘less successful at engaging and retaining free users and converting them to paying memberships’ with app relaunch

Peloton Interactive Inc. shares were sliding about 9% in Thursday’s premarket action after the maker of connected exercise equipment showed financial progress in its latest quarter but delivered a downbeat outlook for the holiday period.

Peloton PTON, +1.05% also reported $9.1 million in adjusted earnings before interest, taxes, depreciation and amortization , compared with a $33 million loss on the metric a year earlier. Analysts were projecting a $17 million loss. The company had 2.964 million connected fitness subscribers for the September quarter, compared with 3.078 million in the June quarter. Analysts had been looking for 2.987 million.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Peloton Reports Earnings on Thursday. What to Expect.Connected-fitness firm Peloton is scheduled to report fiscal-first-quarter earnings before the market opens Thursday.
Source: MarketWatch - 🏆 3. / 97 Read more »

CVS Health’s stock up after earnings beat, but company lowers full-year EPS guidanceCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »

Zillow's stock drops 4% after real-estate company lowers revenue outlookInvestors focused on weaker outlook for current quarter
Source: MarketWatch - 🏆 3. / 97 Read more »

SolarEdge’s stock tanks 22% after company swings to surprise loss, revenue dropClaudia Assis is a San Francisco-based reporter for MarketWatch. Follow her on Twitter ClaudiaAssisMW.
Source: MarketWatch - 🏆 3. / 97 Read more »

Lemonade’s stock rallies 9% after insurance company narrows quarterly lossClaudia Assis is a San Francisco-based reporter for MarketWatch. Follow her on Twitter ClaudiaAssisMW.
Source: MarketWatch - 🏆 3. / 97 Read more »