Peloton revenue surges as pandemic boosts demand for fitness equipment


(Reuters) – Exercise bike maker Peloton Interactive Inc (PTON.O) posted a 172% rise in quarterly revenue on Thursday, benefiting from a surge in subscribers and demand for its fitness products during the coronavirus pandemic.

The company’s net income attributable to Class A and Class B shareholders was $89.1 million, or 27 cents per share, in the fourth quarter ended June 30, compared with a loss of $47.4 million, or $2.07 per share, a year earlier.

Total revenue jumped to $607.1 million from $223.3 million.

Source: reuters.com

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