=Peloton (PTON) reported earnings on Wed 5 Feb 20 (a/h)

Peloton beats by $0.11, beats on revs; guides Q3 revs below consensus; guides FY20 revs above consensus 

Reports Q2 (Dec) loss of $0.20 per share, $0.11 better than the S&P Capital IQ Consensus of ($0.31); revenues rose 77.4% year/year to $466.3 mln vs the $423.74 mln S&P Capital IQ Consensus.

• Connected Fitness Product revs was $381.1 mln, +72% yr/yr
• Connected Fitness Subscriber base reached 712,005, +96%
• Adj. EBITDA loss of $28.4 mln

Co issues downside guidance for Q3, sees Q3 revs of $470-480 mln vs. $493.11 mln S&P Capital IQ Consensus.

• Expects adj. EBITDA loss of $25-35 mln
• Expects 843-848K Connected Fitness Subscribers, +85% at midpoint

Co issues upside guidance for FY20, sees FY20 revs of $1.53-1.55 bln vs. $1.5 bln S&P Capital IQ Consensus.

• Expects adj. EBITDA loss of $95-115 mln
• Expects 920-930K ending Connected fitness Subscribers, +81% at midpoint