8:42 am: Peloton under pressure after earnings, shares fall 7%slid 7% in premarket trading after the company reported widening losses and slowing revenue growth in the second quarter. The company lost $55.4 million for a loss of 20 cents per share. This was smaller than the 36 cent loss analysts had been expecting, according to estimates from Refinitiv, but. Revenue rose 77% to $466.3 million, which topped Street expectations, although the pace of growth slowed from the prior quarter.
The company said that connected fitness subscribers surged 96% year-over-year, but the average net monthly churn rate did tick higher to 0.74%, compared to 0.52% a year earlier.slipped about 3% in premarket trading, a relatively small move for the stock after three days in a row of crazy swings. Tesla gained 19.9% and 13.7% on Monday and Tuesday, respectively, before selling off sharply on Wednesday and dropping 17.2%.
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Source: CNBC - 🏆 12. / 72 Read more »
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