Peloton Stock Is Turbulent After CEO Split, Job Cuts

Peloton stock is on a roller-coaster ride after announcing a leadership change and restructuring plan. Here's what you need to know.

outside of Peloton studio in New York City
(Image credit: Michael Nagle/Bloomberg via Getty Images)

Peloton Interactive (PTON) stock is volatile Thursday as market participants take in the exercise equipment maker's fiscal third-quarter earnings report. The company also announced a change in the C-suite and a restructuring plan that will eliminate 15% of its workforce.

Starting with earnings. In the three months ended March 31, Peloton's revenue decreased 4.2% year-over-year to $717.7 million while its per-share loss narrowed to 45 cents from 79 cents.

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.