PTON - Peloton Stock Falls After Worse-Than-Expected Q3 Results New Co-CEOs Restructuring Plan | Benzinga
Peloton Interactive, Inc. (NASDAQ:PTON) shares are trading lower Thursday after the company reported worse-than-expected third-quarter results, announced a CEO transition and announced a 15% global workforce reduction.
The Details:
Peloton reported quarterly losses of 45 cents per share which missed the analyst consensus estimate of losses of 36 cents by 25%. Quarterly sales came in below analysts' estimates at $717.7 million, representing a 4.17% decrease from the same period last year.
The company announced CEO Barry McCarthy will step down and Karen Boone and Chris Bruzzo, will serve as Interim Co-CEOs while the company searches for ...