Peloton Crushes Expectations, Resulting in First-Time Profit
Peloton (NASDAQ: PTON) reported blockbuster fiscal fourth-quarter results (ended Jun. 30) after the market close on Thursday, continuing to reap the rewards of the stay-at-home economy. The home fitness specialist reported revenue of $607 million, which soared 172% year over year, resulting in earnings per share of $0.27 -- the first time the company has generated a profit.
Strong customer adoption helped boost the robust results. Connected fitness subscriptions grew to over 1.09 million, up 113% year over, while paid digital subscriptions of 316,800 more than tripled. This resulted in total members that increased to 3.1 million, up from 1.4 million in the year-ago quarter.
Image source: Peloton.
Source Fool.com
