Peloton Interactive reports fourth-quarter revenue of $643.6m, exceeding analysts’ expectations
Peloton Interactive reported its first sales increase in nine quarters and beat estimates, indicating that the fitness equipment maker’s years-long turnaround efforts were paying off, sending its shares surging as much as 41% on Thursday.
The restructuring aims to stanch a slump in sales of its high-end, at-home equipment following a boom during the pandemic as customers cut back on discretionary spending in the face of elevated interest rates and sticky inflation.
About Author
More Stories
Russian gas shutdown forces closure of almost all industry in Transnistria
Ripe for the picking? Irish wine on the up – but ‘nobody will retire rich’
‘It’s buzzing here’: Detroit’s revival takes shape after decades of decay