At-home fitness made Peloton rally
The fitness company, Peloton reported the earnings figures for the fourth fiscal quarter, and the results came higher than expected.
Peloton had sales of $607.1 million, while last year they had sales of $223 million. Its EPS came in at 27 cents. Analysts were looking for 10 cents/share on sales of $586 million.
For the whole fiscal year, from equipment sales, Peloton had a $1.46 billion revenue, while from subscription services, it had figures of $363.7 million. During the previous fiscal year, it reported $719 million and $181 million in revenues. According to the report, the increases were caused by a #pandemic-induced demand for #fitness equipment.
For the next fiscal year, Peloton expects another increase in revenue from subscriptions, and an increase in user base of 2.1 million. The overall revenue is expected to be at a high of $3.65 billion. Analysts' consensus for the number of new subscribers is 1.78 million, while the revenues could reach $2.74 billion.
Since its September 2019 IPO, Peloton stock price gained more than 260%, while USA500 added 17.7%.
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Sources: investors.com, marketwatch.com