Peloton shares plummet 20% as fitness company gives dismal outlook
Publishing timestamp: 2024-02-01 10:28:09
Summary
Peloton's CEO, Barry McCarthy, has made progress in the company's turnaround plan, but sales growth and profitability are still months away. The company reported mixed results for its holiday quarter, with a larger loss than expected but beating revenue estimates. Peloton's guidance for the current quarter and full-year sales outlook were also weaker than expected. Despite some positive developments, Peloton has not yet achieved its key targets for revenue growth and positive adjusted EBITDA. The company is facing challenges in hardware sales, customer service, and fulfilling demand for its products.
Sentiment: MIXED
Keywords: business, earnings, retail industry, breaking news: earnings, amazon.com inc, barry mccarthy, business news, breaking news: business, peloton interactive inc, dick's sporting goods inc,
Source: https://www.cnbc.com/2024/02/01/peloton-pton-earnings-q2-2024.html