Why Peloton Stock Is Falling Hard Today
Shares of Peloton Interactive (NASDAQ: PTON) plummeted this morning after the company reported fiscal fourth-quarter top- and bottom-line results that were far lower than analysts' average estimates. Investors were also disappointed with the company's first-quarter sales guidance.
Peloton's stock had plunged 19.2% as of 11:31 a.m. ET.
Peloton reported a loss under generally accepted accounting principles (GAAP) of $3.68 per share in the quarter, ended June 30, which was down significantly from a loss of $1.05 in the year-ago quarter and much worse than Wall Street's consensus estimate of a loss of $0.76 per share.
Source Fool.com
