Peloton reports Q3 EPS 6c, consensus 8c

Reports Q3 revenue $630.9M, consensus $617.76M. Ending Paid Connected Fitness Subscriptions were 2.662 million, a decrease of 218,000 or 7.6% year-over-year and in line with the midpoint of our guidance range. “In Q3 we made great progress on deepening our relationships with our Members, growing our opportunities to reach new Members globally, diversifying our revenue streams, and planting new seeds for future growth. At the same time we continue to strengthen our financial foundation, highlighted by revenue growth, a significant increase in Adjusted EBITDA, and a dramatic reduction in Net Debt,” said Peloton’s (PTON) CEO & President, Peter Stern. “With the announcement of the Peloton Commercial Series and the recent launch of our global Spotify partnership, we are accelerating our evolution into a comprehensive, global wellness ecosystem.”