Peloton Interactive is a company that provides services and products for home fitness, namely types of equipment with screens on which you can watch the various classes that the company offers, and also has an application called Peloton Digital, by subscribing you will get access to the classes. According to the five-day graph, the stock price dipped 5%. At the beginning of this week, the worth reached a weekly high of $ 92.85. However, by the close of trading on Thursday, it was down 7.3% to $ 86.06. This huge drop is due to disappointing first-quarter results. This also affected the cost of shares in extended trading and they fell 28%.
Revenue popped to $ 805.2 million, up 6% over 2020, when it was $ 757.9 million. Revenue for the quarter exceeded Zacks forecast by 0.14%. Nevertheless, sales of exercise equipment such as bicycles and treadmills plummeted 17% year-over-year, lowering the revenue forecast to $ 1 billion. From the sad news, it is reported that customers who have the company’s products commenced using them less often. If last year Peloton subscribers completed about 20.7 workouts, then last quarter this number decreased to 16.6 exercise sessions in 30 days. Although Planet Fitness, which was one of the main victims of the pandemic, reported that its revenues were up 46% from last year, and its stock reached an all-time high of $ 93.92.