Peloton (NASDAQ: PTON) released its second-quarter earnings for FY22 after the market closed on Wednesday, February 9, 2022. The company missed the earnings estimates miserably. Therefore, the PTON stock plunged after surging past 25% yesterday. Moreover, the company also got a new CEO as McCarthy replaces John Foley.
- Revenue: $1.13 billion vs. $1.18 billion expected
- Diluted EPS: ($1.39) adjusted vs. ($1.18) expected
- Net Income: $439.4 million
Analysts Estimate
The Zacks Estimate for the loss per share for the fourth quarter to be $1.18. This suggested a massive decline of 755.56% year-over-year. The estimated revenue was pinned at $1.14 billion which also indicated an increase of 6.99% than that of the previous year.
The Earnings Expected Surprise Percentage (ESP) for the quarter was 4.42% which indicated that the consensus this time expected Peloton to beat its estimates.
PTON stock
The PTON stock was down by 1.50% and was priced at $36.71 (down by 0.56 points) at 8:45 a.m. ET in today’s pre-market trading session. The market capitalization of the company stood at $12.30 billion. Yesterday, the stock closed at $37.27, up by a huge 25.28% (gaining 7.52 points).
PTON shares skyrocketed above 30% in yesterday’s trading session. This was much needed after the recent plunge in the pre-market trading session yesterday. The stock had been maintaining a ‘green’ streak recently. The PTON stock was up by a huge 29.04% and traded at $38.39 (up by 8.64 points) at 1:19 p.m. ET during today’s trading session. The market capitalization of the company stood at $12.6 billion.
Earlier, the stock tumbled as a negative news came in. The linked fitness business stated on Tuesday that it will terminate CEO John Foley as well as eliminate 2,800 jobs, or roughly 20% of its workforce.
The PTON stock surged on Monday, however, yesterday it plunged drastically after the update on human resources. The stock was down by a huge 8.87% and was priced at $27.11 (down by 2.64 points) at 7:25 a.m. ET in the pre-market trading session. The market capitalization stood at $9.8 billion. On Monday, the stock closed at $29.75, surging 20.93% (up by 5.15 points). The share volume traded for the PTON stock was 105,815,260, almost five times of the average share volume of 24,586,214.
