Jim Cramer: Peloton Is 'Overly Hated'
Whew. Peloton (PTON) - Get Peloton Interactive, Inc. Class A Report reported its first earnings report before the bell Tuesday.
In its first quarterly report as a public company, Peloton posted a net loss of $49.8 million for the three months ended Sept. 30, or $1.29 a share, vs. a loss of $54.5 million, or $2.18 a share, in the comparable year-ago quarter. Analysts polled by FactSet had been expecting a loss of 36 cents a share. Sales came in at $228 million, above analysts' forecasts of $199.1 million, reported TheStreet's M. Corey Goldman.
"Our strong sales were the result of our effective brand and performance marketing efforts including a new marketing campaign highlighting our financing program for the first time," the company said in a statement. "We also benefited from continued word-of-mouth referrals from our loyal members, which remains one of our largest marketing channels."
Jim Cramer said that Peloton had a 'really good' quarter and that he thinks the company is 'overly hated.'
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