Peloton, the American online fitness company among the Winner Covid 2020 (for the substantial increases made by the title), announced that it has ended its first fiscal quarter with a loss higher than expected.
The sharp decline in turnover linked to the sale of its fitness products, which more than compensated for the increase in subscriptions to its services, was weighed down.
The stock reacted to the publication of the quarterly report with a thud of almost -10%, and then reduced its losses and dropped by more than 5%.
The strong sell-offs have led Peloton’s prices to slide by around 75% since the beginning of the year.
Peloton closed the third quarter of the year with a loss per share of $ 1.20, almost double the loss per share of 64 cents expected by the analyst consensus.
Revenue, down 23% year-on-year, amounted to $ 616.5 million, less than the expected $ 650.1 million.
The outlook for the current quarter, which is also the holiday shopping quarter, is also disappointing: Peloton expects revenue between $ 700 and $ 725 million, well below the $ 874 million expected by the consensus.