Shares of Peloton Interactive Inc (PTON), up almost 341.76 percent since the beginning of the year, concluded Friday trading at a loss of 0.92 percent to close the week at $125.46. Posting beating quarterly results for the fiscal first quarter 2021 ended September 30 also remained failed to that slip of the interactive fitness product maker’s stock on the day.
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However for the second consecutive quarter, the company posted better earnings per share. The New York-headquartered company that went public just over a year ago on September 26, 2019 posted an EPS of $0.20 per share, which is $0.09 more than the forecast of $0.11 per share by analysts. It was also considerably better compared to a loss per share of $1.29 in the first quarter of fiscal 2020.
From a loss of $49.8 million a year ago, gross quarterly profit rose to $69.3 million. Total Q1 sales grew by 232 percent to $757.9 million, which also surpassed Wall Street’s $748.04 million estimates.
Peloton being a fitness company is known to receive a large share of its revenue from bicycle and treadmill sales with displays while a lesser part of that revenue comes from subscriptions to its online fitness classes digital platform. However, the company does not provide figures for these revenue segments separately.
Peloton said the number of fitness subscribers to its digital channel surpassed 1.33 million as of September 30, which is 137 percent more than the year before. The management of the company noted that the Peloton team continued to increase the amount of content on the site throughout the quarter, producing more than 2,400 new fitness lessons.
A good indicator is also that Peloton continued to demonstrate its users’ high level of engagement and a record low percentage of those who refuse their fitness services. The mean number of workouts among the Peloton audience increased to 20.7 workouts per month in the face of the pandemic and gym closures, up from 11.7 a year earlier.
