Peloton (PTON) Rallies 6.4% on Quarterly Window-Dressing
Peloton Interactive, Inc. (NASDAQ:PTON) is one of the 10 Stocks Leave Wall Street Stunned.
Peloton Interactive rallied by 6.42 percent on Friday to close at $6.8 apiece as investors appeared to scoop up bargains ahead of the quarterly window-dressing.
In recent news, Peloton Interactive, Inc. (NASDAQ:PTON) announced the creation of a chief technology officer role in line with its plans to focus on artificial intelligence innovation. The role will be assumed by Francis Shanahan, who has led the company’s engineering and technical teams, customer-facing AI innovation strategy, guided product architecture, and ensured its systems are scalable and high-performing.
In the third quarter of fiscal year 2025, Peloton Interactive, Inc. (NASDAQ:PTON) narrowed its net losses by 71.5 percent to $47.7 million from $167.3 million in the same period last year, pushing its nine-month losses down by 73 percent to $140.5 million from $521.4 million in the same comparable period.
A group of people in a fitness class with connected fitness products in a studio or gym.
Revenues for the last quarter declined by 13 percent to $624 million from $717.7 million year-on-year, while revenues for the nine-month period decreased by 8 percent to $1.883 billion from $2.056 billion.
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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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