Why Peloton Interactive Shares Are Falling

Peloton Interactive Inc PTON shares are trading lower after the company reported worse-than-expected fourth-quarter sales results and issued first-quarter sales guidance below estimates.

What Happened?

Peloton reported quarterly sales of $678.70 million which missed the analyst consensus estimate of $722.19 million by 6%. This is a 28% decrease over sales of $936.90 million in the same period last year.

The company sees first-quarter sales as low as $625 million or as high as $650 million, which is lower than the analyst consensus estimate of $783.28 million.

On Wednesday our Benzinga team reported the Peloton Bike and Guide, as well as select accessories and apparel are now available for purchase on the Amazon platform. 

Prior to Wednesday, Peloton's new products and accessories were sold exclusively through the company's site, inside sales channels and global showrooms. The collaboration with Amazon will allow Peloton to expand its distribution... Read More

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According to data from Benzinga Pro, Peloton has a 52-week high of $120.62 and a 52-week low of $8.22.