Why Peloton Interactive Stock Plunged Friday
Shares of Peloton Interactive (NASDAQ: PTON) were trading down 8.8% at 9:54 a.m. EDT on Friday after the company delivered a disappointing earnings report for the fiscal fourth quarter of 2021. Peloton reported better-than-expected revenue, up 54% year over year reaching $937 million, but it posted a loss of $1.05 per share, lower than analysts' estimates that called for a loss of $0.44.
More concerning was the company's forward guidance, which calls for revenue to increase by 35% in fiscal 2022. This is a significant deceleration compared with the triple-digit rates investors have gotten used to over the last few years.
Source Fool.com
