5 Stocks On Investors’ Radar After Earnings Reports

3. Peloton Interactive, Inc. (NASDAQ:PTON)

Number of Hedge Fund Holders: 62

Peloton Interactive, Inc. (NASDAQ:PTON) recently announced weak financial results for its fiscal second quarter. However, its shares jumped over 25 percent on Tuesday, February 8, 2022, despite the disappointing performance. Many attributed the latest surge to rumors that e-commerce giant Amazon and sportswear company Nike might be interested in buying Peloton.

Coming back to the latest financial results, Peloton Interactive, Inc. (NASDAQ:PTON) posted a loss of $1.39 per share, compared to earnings of 18 cents per share in the year-ago period. Revenue for the quarter increased 6 percent on a year-over-year basis to $1.13 billion. Analysts were looking for a loss of $1.20 per share on revenue of $1.15 billion.

If we look at the important growth drivers, the company’s connected fitness subscribers climbed 66 percent to 2.77 million in the quarter, while total members increased to more than 6.6 million. In addition, Peloton Interactive, Inc. (NASDAQ:PTON) reported that its paid digital subscribers jumped 28 percent versus last year to 862,000 in the quarter.

Among other updates, Peloton Interactive, Inc. (NASDAQ:PTON) announced that CEO John Foley would be replaced by former Spotify’s CFO, Barry McCarthy. The company also announced plans of trimming nearly 2,800 jobs worldwide amid weak demand for its products.