Peloton Beats in Q3; Eyed for Guidance After Recall Saga



© Reuters

By Yasin Ebrahim

Investing.com – Peloton reported Thursday a narrower fiscal third-quarter loss as the exercise bike company made progress on cutting down wait times for its products amid supply chain constrains.

Peloton Interactive (NASDAQ:) (:PTON) was flat in after-market trading.

Peloton posted a loss per share of 3 cents on revenue of $1.26 billion, topping estimates for a 13 cent per share loss on revenue of $1.12 billion.

Gross profit in Q3 was $444.9 million and 35.2% of revenue, representing 81% year-over-year growth

Connected fitness subscriptions grew 135% to over 2.08 million in the quarter, topping guidance of 1.98 million.

Looking ahead, investor focus will zone in on the post-earnings call as management is expected to offer revised full-year guidance in the wake of treadmill recalls saga reported earlier earlier this week.

“[A]verage wait times for our original bike are now back to pre-COVID-19 levels,” the company said. “While progress has been made, additional work remains to reduce delivery times across the remainder of our product portfolio and regions.”

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