Peloton (NASDAQ:PTON) earnings for fiscal third quarter of 2020 have PTON stock up after-hours Wednesday. This comes after reporting diluted losses per share of 20 cents. That’s worse than Wall Street’s estimate of 17 cents per share. However, the exercise equipment and services company’s revenue of $524.6 million is well above analysts’ estimates of $486.62 million.
Let’s take a more in-depth look at the most recent Peloton earnings report below.
- Losses per share are an 88.6% improvement compared to the $1.76 from the same time last year.
- Revenue for the quarter is sitting 65.7% higher than the $316.7 million reported in fiscal Q3 2019.
- Operating loss of $58.4 million is 41.1% worse year-over-year from $41.4 million.
- The Peloton earnings report also contains a net loss of $55.6 million.
- That’s not as good as its net loss of $38.6 million from the same period of the year prior.
Peloton said this about its earnings report in a letter to shareholders:
“Our global Connected Fitness Subscriber base saw significant growth in the third quarter. Our growth was aided by increased demand for our products driven by the extraordinary circumstances facing our global community with the COVID-19 crisis.”
Peloton also includes its outlook for the fiscal full year of 2020 in its current earnings report. This has it expecting revenue to range from $1.72 billion to $1.74 billion. For comparison, Wall Street is expecting revenue of $1.56 billion for the fiscal year.
PRON stock was up 3.2% after markets closed on Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
