Jim Cramer: Peloton Is 'Overly Hated'

Credit: The Street
Published on November 5, 2019 - Duration: 00:34s

Jim Cramer: Peloton Is 'Overly Hated'

Whew.

Peloton 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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