Peloton Interactive PTON reported quarterly losses of 20 cents per share on Wednesday, which missed the analyst consensus estimate by 2 cents. The company reported quarterly sales of $524.6 million, which beat the analyst consensus estimate of $485.400 million.
Peloton reports ending connected fitness subscribers grew 94% to over 886,100 and paid digital subscribers grew 64% to over 176,600. The company reported total members grew to over 2.6 million.
The company is raising its fiscal year 2020 guidance. Peloton sees fiscal year 2020 sales at $1.72-$1.74 billion versus the $1.56 billion estimate. The company sees 1.04 -1.05 million ending connected fitness subscribers
Peloton shares were trading down 2.7% at $37 in Wednesday’s after-hours session. The stock has a 52-week high of $39.26 and a 52-week low of $17.70.
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