Peloton Stock Leaps
- 4 years ago
On Friday, Peloton stock rose as much as 13% in pre-market trading.
The increase came after the connected-fitness group reported its first quarterly profit.
Robust demand for at-home exercise equipment and online classes drove revenue up 172% to $607 million in the three months to June 30.
That generated $89 million in net income for Peloton.
Business Insider reports that Peloton executives expect to nearly double revenue to between $3.5 billion and $3.65 billion next year.
The company's stock has almost tripled this year as investors continue to view it as a "stay-at-home" winner.
The increase came after the connected-fitness group reported its first quarterly profit.
Robust demand for at-home exercise equipment and online classes drove revenue up 172% to $607 million in the three months to June 30.
That generated $89 million in net income for Peloton.
Business Insider reports that Peloton executives expect to nearly double revenue to between $3.5 billion and $3.65 billion next year.
The company's stock has almost tripled this year as investors continue to view it as a "stay-at-home" winner.