Peloton shares soar 28% after major revamp ends two-year sales slump
PTONPeloton(PTON) New York Post·2024-08-23 00:20

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 28% 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.Peloton reported a 0.2% rise in sales for the fourth qu ...