what happened
Shares of affiliated fitness products company Peloton Interactive (NASDAQ: PTON) jumped sharply on Thursday. The stock closed the trading day by more than 7%.
The growth share is likely to have risen in anticipation of the company’s quarterly results after the market closed. Some investors may have expected a blowout quarter.
Image source: Peloton Interactive. Https://press.onepeloton.com/#logos
Approximately
With the announcement of the fiscal results in the second quarter of Peloton, it is clear that the company has enjoyed an impressive momentum. But based on the stock trading after the hour, investors may have expected even better results. From 16:15 EST in the after-hours trading, the stock is down more than 5%, trading close to the levels at which it started the day.
Peloton’s fiscal quarterly revenue rose 128% year-on-year to $ 1.06 billion, predicting a $ 1.03 billion consensus analyst forecast. Earnings per share (EPS) were $ 0.18, compared to a loss of $ 0.20 in the previous quarter. On average, analysts expect a profit of $ 0.09.
It is important that the company’s affiliated fitness subscriptions increase by 134% year on year.
Now what
After-hours trading, which is not as liquid as trading during normal trading hours, is not necessarily a good representation of how the stock will trade when the market opens tomorrow. It is therefore difficult to know exactly how the market will react tomorrow to the recently announced earnings report. For now, however, the results do not seem to have fully met the market’s view.
One thing is clear: Peloton’s business momentum is still staggering.