Peloton Interactive (NASDAQ: PTON) looks to finally be reaping some benefits from a turnaround plan long in the making. Investors piled into the interactive fitness company's stock Thursday after Peloton reported its fiscal fourth-quarter results.

Shares were up 27% just before 11 a.m. ET, after the company beat earnings and revenue expectations as the company continues to execute its turnaround strategy. Even so, shares of the struggling company are still down by about 30% year to date.

Investors now apparently think there could be value in shares as the stock's decline is weighed against improving business metrics and a strategy shift. The company reported sales of $644 million for the quarter. That was higher than analysts expected and was a slight increase compared to the prior-year period. That was the company's first year-over-year sales increase over the past nine quarters.

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Source Fool.com