Here's Why Peloton Stock Got Absolutely Smashed on Friday
Shares of connected-fitness company Peloton Interactive (NASDAQ: PTON) got absolutely smashed on Friday following the release of financial results for the first quarter of its fiscal 2022. Results were actually in line with guidance, but full-year guidance was revised lower, to investors' dismay. As of 10 a.m. EDT today, Peloton stock was already down an excruciating 30%.
For the first quarter, management had guided for revenue of $800 million, 2.47 million connected-fitness subscriptions, and negative earnings before interest, taxes, depreciation, and amortization (EBITDA) of $285 million. The company's results actually beat on these points with revenue of $805 million, 2.49 million subscriptions, and negative EBITDA of "only" $234 million.
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Source Fool.com
