Peloton beats estimates in second quarter, but stocks fall on supply question By Investing.com

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© Reuters

By Yasin Ebrahim Investing.com – Peloton reported Thursday that it raised its annual forecast after reporting better-than-expected second-quarter fiscal results, but difficulties keeping up with demand amid supply chain restrictions overshadowed the optimistic results. Peloton Interactive Inc (NASDAQ 🙂 was down more than 5% in after-market trading. The company led fiscal third quarter revenue of $ 1.10 billion and expected to add 1.98 million connected fitness subscribers. The revised annual forecast anticipates slow but steady progress in reducing PTON’s order-to-delivery windows for the remainder of the fiscal year. For fiscal year 2021, the company forecasts sales of between $ 4.075 billion of the $ 3.90 billion. “Our revised forecast anticipates slow but steady progress in reducing our order-to-delivery windows for the remainder of the fiscal year,” the company said. Peloton reported second quarter EPS of 18 cents on revenue of $ 1.06 billion, compared to EPS estimates of 10 cents on revenue of $ 1.03 billion. Connected fitness subscribers increased 134% to 1.67 million.

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