Peloton’s Margins Improve, but Sales Guidance is Down
Net income grew nearly sevenfold to $96.2 million from $13.9 million in the fiscal first quarter ended Sep. 30 on total revenue that was up 2% to $559.2 million from $550.8 million, with connected fitness products slipping 3% to $148.5 million but subscriptions up the same percentage to $410.7 million. Paid connected fitness subscriptions declined 9% year over year to 2.475 million at period, and total members dropped 11% to 5.3 million. Ending paid app subscriptions were off 10% to 0.487 million, and average monthly churn increased slightly to 1.7%. There ... Log in to view full article.