Peloton Adjusts FY Revenue Guidance, Q3 Results Mixed

Peloton Interactive, Inc. (PTON) has adjusted its full-year revenue guidance to $2.68 billion to $2.70 billion, down from a previous range of $2.68 billion to $2.75 billion, slightly below the estimated $2.71 billion. In its third quarter results, the company reported revenue of $717.7 million, narrowly missing the estimate of $719.2 million. Its connected fitness revenue was $279.9 million, below the expected $288.2 million, while subscription revenue exceeded expectations at $437.8 million compared to the estimated $429.7 million. The number of connected fitness subscribers reached 3.06 million, compared to an estimate of 3.06 million.