Peloton's Stock Crashes After Q4 Performance, CEO Points to Travel Resurgence and Product Recalls as Key Factors
Portfolio Pulse from Anusuya Lahiri
Peloton Interactive Inc's Q4 FY23 results show a 5% YoY sales decline to $642.1 million, beating the consensus of $639.9 million. However, EPS loss was $(0.68), missing the consensus loss of $(0.38). The total number of members fell 5% YoY to 6.5 million. The company's CEO, Barry McCarthy, attributed the slowdown to a shift in consumer spending towards travel and experiences, and product recalls. Peloton's shares are down by 28.60% in premarket trading.
August 23, 2023 | 1:14 pm
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Peloton's Q4 FY23 results show a sales decline and EPS loss, leading to a drop in share price. The company's CEO attributes the slowdown to a shift in consumer spending and product recalls.
Peloton's Q4 FY23 results missed expectations, with a sales decline and a larger than expected EPS loss. This negative performance, along with the CEO's comments about a shift in consumer spending and product recalls, has led to a significant drop in the company's share price.
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