Peloton Interactive (NASDAQ: PTON) reported third-quarter 2021 financial results after the regular market hours on Thursday. The maker of exercise equipment reported Q3 revenue of $1.26 billion, up 141% year-over-year and above the Wall Street projection. Meanwhile, net loss of $0.03 per share was 9 cents narrower than what analysts had anticipated.
PTON shares fell 6% immediately following the announcement, as the company did not provide an outlook in the earnings release. The stock has declined 43% since the beginning of this year.
When online platforms thrived on the unusually strong traffic growth during the shutdown, as home-bound people turned to video-streaming and gaming sites, there was speculation that the trend might reverse
Production disruption and logistics issues continue to have a crippling effect on the industrial sector but the performance of companies, in general, has been mixed so far. Fastenal Company (NASDAQ:
Netflix, Inc. (NASDAQ: NFLX) Thursday said it added 8.3 million paid members in the December quarter. Revenues increased and matched estimates, aided by the relaxation of COVID restrictions and resumption