Peloton (PTON) Drops After Revenue & Outlook Fall Short

Peloton (PTON) earnings were released today. Its adjusted EPS came in at -$0.68 versus an estimated -$0.45 and revenue came in at $642.1M versus an estimated $640.5M. The stock drops after its revenue outlook falls short. PTOM members came in at 6.5M versus last year's 6.9M and its app subscribers came in at 828.0K versus last year's 980.0K. David Carr notes that PTON's cancellations are up 8% over the previous quarter and he estimates that in July there were 2.5X more cancellations as new digital subscribers. Seema Shah highlights that PTON's marketing likely led to user growth and has seen engagement spike relative to competitors. Tune in to find out more about the stock market today.