Peloton Interactive, Inc. (NASDAQ:PTON) stock tumbled after the company posted a wider-than-expected quarterly loss and revenue that fell short of Wall Street forecasts.
The results overshadowed margin expansion and improved profitability metrics, while softer guidance and a CFO transition added to investor concerns.
Quarterly Metrics
The company reported a second-quarter loss per share of nine cents, missing the Street view of a five-cent loss. Quarterly sales of $656.50 million (down 3% year over year) missed the analyst consensus estimate of $672.22 million.
Total gross margin was 50.5%, up 320 basis points year over year. Adjusted EBITDA was $81 million, an increase of 39% year over …