Peloton Interactive Stock News

NEW YORK, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Peloton Interactive, Inc. (Nasdaq: PTON) has announced its financial results for fourth quarter and full year fiscal 2024. Please visit the Peloton investor relations website to view the shareholder letter. Today the company will host a conference call and live audio webcast to discuss the results at 8:30 a.m. ET.

Peloton was a fad stock during the coronavirus pandemic. It tried to shift gears, going from an exercise equipment maker to an exercise subscription service.

Peloton and Planet Fitness are expanding their investments in strength over cardio equipment as more women and young people opt for weights at the gym. Planet Fitness changed its gyms up to focus on strength workouts and noted that strength equipment tends to be less expensive.

Peloton Interactive's investors will look for updates on its CEO appointment and efforts to grow subscribers in fiscal 2025 when the fitness equipment maker reports results on Thursday.

This business was once a darling on Wall Street, as consumer demand was red-hot. Following the pandemic, revenue started declining, with rising net losses.

The bank detailed its picks after solid retail sales data and Walmart's earnings beat underlined the strength of the U.S. consumer.

Peloton (NASDAQ: PTON ) stock is making a rather surprising move lower today. At the time of this writing, PTON stock is down more than 4% despite the company announcing a rather intriguing partnership with Google and Fitbit parent Alphabet (NASDAQ: GOOG , NASDAQ: GOOGL ) to bring Peloton classes to Fitbit smartwatches.

Fitbit Premium users will have access to a library of video workout classes from Peloton.