Peloton Interactive - ★
Ranked #88 in Q3 2024 SMID Cap Equity Rankings
Peloton (PTON) stock jumped 27% today following the release of its Q4 earnings report, which showed the company's first year-over-year revenue growth in nine quarters.
Despite this significant rally, the stock remains down 27% year-to-date, highlighting the challenges PTON has faced in 2024.
Key points:
Q4 revenue reached $6.43 billion, a 0.2% increase YoY, beating analyst estimates of $6.30 billion.
Second consecutive quarter of adjusted core profit and positive free cash flow.
Stock touched an intraday high of $4.33, near its 200-day moving average.
Restructuring plan announced in May, including a 15% workforce reduction.
CEO search ongoing following Barry McCarthy's departure in May.
This positive earnings report suggests Peloton's turnaround efforts may be gaining traction. However, investors should remain cautious given the stock's volatile performance this year and ongoing leadership transition.
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