Earnings

Peloton (PTON) reports fiscal Q4 2020 earnings, sales beat

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Peloton said Thursday its fiscal fourth-quarter sales surged 172%, as its high-tech stationary bike and treadmill became two of the hottest commodities for people looking to workout from home during the coronavirus pandemic

The fitness equipment maker also offered Wall Street an eye-popping outlook for the current quarter and fiscal 2021, with sales of its bikes not expected to slow down anytime soon. 

But that also means more strain on its supply chain. In a letter to shareholders, Peloton said it had expected demand to “moderate,” but a recent resurgence of Covid-19 cases has “perpetuated the imbalance of supply and demand.” It said it doesn’t expect to return to “normalized…

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Source cnbc.com

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