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Peloton Beats Estimates in Q2, But Stock Falls on Questions Over Supply

Published 04/02/2021, 21:16
Updated 04/02/2021, 21:40
© Reuters

By Yasin Ebrahim

Investing.com - Peloton reported Thursday raised its annual forecast after reporting better-than-expected fiscal second-quarter results, but struggles to keep up with demand amid supply chain constraints overshadowed the upbeat results.   

Peloton Interactive Inc (NASDAQ:PTON) was down more 5% in after-market trading.

The company guided fiscal-third quarter revenue of $1.10 billion and expected to add 1.98 million connected fitness subscribers. The revised annual forecast anticipates slow but steady progress in narrowing PTON's order-to-delivery windows over the remainder of the fiscal year.

For fiscal 2021, the company sees sales of between $4.075 billion from the $3.90 billion.  

"Our revised forecast anticipates slow but steady progress in narrowing our order-to-delivery windows over the remainder of the fiscal year," the company said.

Peloton reported Q2 EPS of 18 cents on revenue of $1.06 billion, that compared with estimates for EPS of 10 cents on revenue of $1.03 billion.  

Connected fitness subscribers jumped 134%, to 1.67 million. 

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