Peloton Interactive PTON shares are trading lower on Wednesday afternoon despite the company reporting better-than-expected second-quarter EPS and sales results.
The company reported quarterly losses of 20 cents per share, which beat the analyst consensus estimate calling for a 36-cent loss. Peloton reported quarterly sales of $466.3 million, which beat the analyst consensus estimate of $421.37 million by 10.66%.
The company said connected fitness subscribers grew 96% to 712,005, total members grew to over 2 million.
Peloton sees third-quarter revenue of $470-$480 million, below the $497.4 million consensus estimate.
Peloton shares were trading down 11.8% at $28.88 in the after-hours session. The stock has a 52-week high of $37.02 and a 52-week low of $20.46.
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