Peloton‘s (PTON) at-home exercise bike demand is booming amid the pandemic…
PTON stock up 17% to $44.32 per share today.
The exercise equipment and media company’s adjusted earnings per share (“EPS”) was $0.20. PTON’s adjusted earnings before interest, taxes, depreciation, and amortization (“EBITDA”) were $23.5 million versus the consensus of $22.2 million.
The company’s revenue was much higher than expected. PTON reported revenue for the quarter of $524.6 million, topping the estimate of $488.5 million.
Its fitness products, like exercise bikes, made up $420.2 million of its total revenue while its subscriptions and other productions made up $98.2 million and $6.1 million, respectively.
PTON’s total number of subscribers for the quarter was 886,1000 versus the expected 857,000.
The company noted its surge in at-home exercise bike demand was the primary factor as gyms remain closed on lockdown orders.
As a result, PTON hiked its 2020 guidance up…
Looking forward, the company expects to see an adjusted EBITDA of $30 million to $40 million. Meanwhile, estimates are pegging its EBITDA to shoot as high as $89.5 million on the results.
For full-year 2020, PTON said its revenue could be anywhere from $1.72 billion to $1.74 billion. And it anticipates fitness subscriber growth of 104% to 1.04 million to 1.05 million.