Shares of Peloton Interactive (NASDAQ: PTON) were down in morning trading at the time of publishing on Thursday after the exercise equipment company reported a wider-than-expected loss in fiscal Q3 of $0.79 per share, narrower than a loss of $2.27 per share in the same period last year but wider than analysts’ expectations of a loss of $0.48 per share.
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The company’s revenues in the third quarter declined by 22% year-over-year to $748.9 million but surpassing consensus estimates of $710.5 million.
At the end of the fiscal third quarter, PTON reported connected fitness subscriptions of 3.107 million, up by 5% year-over-year while members were 6.7 million in Q3, down by 5% year-over-year.
Looking forward, the management expects its Q4 revenues to be in the range of $630 million to $650 million, up by 6% year-over-year while adjusted EBITDA is projected to be between a loss of $25 million and $10 million.
Analysts remain sidelined about PTON stock with a Hold consensus rating based on two Buys, four Holds, and one Sell.
