Peloton Earnings

Market Overview
Read time 1.9 minutes

Year To Date Performances:

1. Facing uphill battles, Peloton is steering through a tough quarter with strategic partnerships and global expansion in an effort to regain its peak fitness. The company reported a narrower net loss of $159.3 million, or $0.44 per share, better than last year's $408.5 million loss, but saw a dip in revenue to $595.5 million from the prior year's $616.5 million. Peloton's holiday quarter forecast suggests revenues may continue to decelerate, projecting up to 8% lower than last year's figures, missing analyst expectations. In response, Peloton has pumped up its strategy, allying with Lululemon to offer exclusive workout classes and the NBA to allow fans to stream games during their workouts. Additionally, Peloton is pushing the pedal on product availability, launching its new Row machine in Canada and extending its Bike and Bike+ sales into Austria, marking an assertive tread into its fifth international market. These initiatives are part of Peloton's drive to re-energize sales and recapture its pre-pandemic market vigour.

2. Starbucks has outdone itself with a revenue leap of 11% to $9.4 billion this quarter, steamrolling past analysts' forecasts. The secret to their success lies partly in the United States, where the coffee titan has seen an 8% uptick in same-store sales, thanks to an increase in customer visits and a penchant for pricier specialty drinks. On the international stage, same-store sales have soared by 8%, comfortably beating the 6.8% growth analysts had envisioned. The expansion hasn't slowed down either, with Starbucks planting its green mermaid emblem on 816 new locations worldwide, topping 38,000 stores. But it's not just about quantity; Starbucks is also stirring up its North American stores with a $450 million refresh aimed at whipping up iced drinks quicker—reflecting a cool 75% of its U.S. sales—and enhancing its hot food offering with new ovens and warmers, ensuring its stores are as innovative as the company's global expansion is aggressive.

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4. Headlines

   1. The Federal Reserve has announced that it won’t be raising interest rates this month.

   2. Moderna lost $3.6B last quarter, with $1.3B coming directly from losses on the Covid-19 vaccine as demand falls.

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