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.
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