2024-02-01 07:33:52 ET
Peloton Interactive Inc (NASDAQ: PTON) is trading down on Thursday even though it reported better than expected revenue for its fiscal second quarter.
Investors are concerned also because the guidance wasn’t all too encouraging either.
Peloton now forecasts its revenue to fall between $700 million and $725 million in the current quarter. Analysts, in comparison, were at $749 million. Barry McCarthy – its chief executive said in a press release today:
The connected fitness company expects up to $75 million of adjusted EBITDA this year. Wall Street currently has a consensus “hold” rating on Peloton stock.
Lost $194.9 million versus the year-ago $335.4 million
Per-share loss also narrowed from 98 cents to 54 cents
Adjusted EBITDA loss printed at $82 million in Q2
Revenue fell about 6.0% year-over-year to $744 million
Consensus was 54 cents loss on 733 million in revenue
Peloton ended its second financial quarter with negative of free cash flow. CEO McCarthy also said on Thursday:
Peloton Interactive ended Q2 with 3.004 million paid subscribers – up sequentially from 2.964 million. Analysts had called for 2.989 million connected fitness subscribers at the end of the second quarter.
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