Peloton Shares Rise 41% as Sales Rebound Following Restructuring Efforts
Sectors & Industries
August 26, 2024
Peloton shares surged up to 41% after reporting its first sales increase in nine quarters, with fourth-quarter revenue reaching $643.6 million, surpassing analyst expectations.
This growth signals the effectiveness of Peloton's restructuring efforts, which include expanding its subscriber base and reducing costs.
Despite the positive results, interim co-CEO Karen Boone expressed concerns about expanding the subscriber base further in fiscal 2025.
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