This Pandemic Favourite Stock Surging After Q1 Performance - Is The Poor Run Over?
Portfolio Pulse from Anusuya Lahiri
Peloton Interactive Inc (NASDAQ:PTON) reported a Q1 FY24 sales decline of 3% YoY to $595.5 million, beating the consensus of $591 million. The company's EPS loss was $(0.44), missing the consensus loss of $(0.33). The total number of members fell 4% YoY to 6.4 million. However, gross profit for the quarter increased 31% to $285.4 million, and the margin expanded to 47.9%. The company expects Q2 FY24 revenue of $715 million - $750 million, representing a decline of 2% YoY. PTON shares are trading higher by 11.90% at $5.38.
November 02, 2023 | 4:15 pm
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POSITIVE IMPACT
Despite a YoY sales decline, Peloton beat consensus estimates for Q1 FY24. However, the company's EPS loss was greater than expected. The company's gross profit increased significantly, and its shares are trading higher.
Peloton's Q1 FY24 results were mixed, with sales beating estimates but EPS loss missing expectations. Despite a YoY decline in sales, the company's gross profit increased significantly, indicating improved profitability. This, along with the fact that the company's shares are trading higher, suggests a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100