Peloton Interactive Inc PTON shares are trading higher by 6.98% to $5.90 Friday morning, despite a lack of company-specific news for the session. Following the company's mixed fourth-quarter results, including a decline in Connected Fitness subscribers and soft first-quarter revenue guidance, the stock is rebounding from Wednesday's weakness.
Peloton also received several analyst rating updates in response to the earnings report.
What Happened With Earnings?
PTON reported a fourth-quarter FY23 sales decline of 5% year-on-year to $642.1 million, beating the consensus of $639.9 million. EPS loss was $(0.68), missing the consensus loss of $(0.38).
The total number of members in the quarter fell 5% Y/Y to 6.5 million.
Ending connected fitness subscriptions rose 4% Y/Y to 3.08 million, and Ending App subscriptions fell 16% to 0.83 million...Read More
According to data from Benzinga Pro, PTON has a 52-week high of $17.83 and a 52-week low of $5.27.
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