Why Shares of Peloton Jumped 12.2% in May
Peloton Interactive (NASDAQ: PTON) shares rose 12.2% during the month of May, according to data provided by S&P Global Market Intelligence. The maker of connected-fitness equipment benefited from Q3 2021 results that beat Wall Street analysts' estimates for both the top and bottom lines, as well as positive developments regarding well-publicized supply-chain and safety issues.
For the quarter ended March 31, Peloton reported revenue of $1.26 billion and a loss per share of $0.03. The business exceeded expectations, as Wall Street was forecasting sales of $1.1 billion and a loss per share of $0.12.
Connected-fitness subscriptions rose 135% year over year and now total more than 2 million. Additionally, member churn in the quarter was an impressive 0.31%, while the 12-month retention rate stood at 92%.
Source Fool.com
