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Peloton Stock Plummets 25% After Earnings
- On Thursday, Peloton Interactive Inc. reported holiday-quarter revenue of $657 million, missing Wall Street analysts' expectations of $674 million and falling short of internal sales targets.
- Amid a post-pandemic shift, higher-priced AI-driven hardware failed to prompt upgrades, and over 100,000 subscribers left as gyms reopened.
- Profitability metrics indicate hardware sales were $244 million and subscriptions $413 million, both below StreetAccount expectations, while net loss narrowed to $38.8 million.
- The company cut 11% of Peloton employees this week to save $100 million and expects adjusted EBITDA between $120 million and $135 million this quarter; CFO Liz Coddington will step down in March.
- Industry-Wide, Peloton forecasts sluggish sales to continue and guides Q3 revenue between $605 million and $625 million, with Coddington stating, "Our guidance is 2.65 to 2.675 million paid connected fitness subscriptions.
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18 Articles
Peloton Slashes Sales Outlook, Misses Estimates Despite Hardware Debut
Shares of Peloton Interactive Inc. tumbled by the most in more than two years after the company provided a weaker-than-expected revenue forecast for the fiscal third quarter, disappointing investors who hoped a recent hardware revamp would spur a long-promised turnaround.
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Total News Sources18
Leaning Left4Leaning Right0Center7Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 36%
C 64%
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