Peloton reports Q2 EPS (9c), consensus (6c)

Reports Q2 revenue $656.5M, consensus $675.13M. “Our second quarter represented the most substantial period of innovation at Peloton (PTON) since our founding. At the same time, our financial performance demonstrated our continued operational discipline, resulting in 39% year-over-year growth in Adjusted EBITDA and reducing Net Debt by 52% year-over-year, proving we can simultaneously innovate and increase our profitability,” said CEO Peter Stern. “We’re driving positive momentum across the business: the new Cross Training Series is resonating in the marketplace, our subscription base is highly committed, our integrated Commercial Business Unit is growing and well-positioned to continue doing so, and Member engagement with Peloton IQ is encouraging. Looking ahead, our focus remains on executing our strategy to increase our share of the growing global wellness economy while continuing to enhance our magic formula of premium hardware, intuitive software, and unmatched human coaching.”