Peloton Sales Jump 66% on Covid-19 Boost for Home Workouts
- Fitness equipment maker raises forecasts on continued demand
- Company assumes it won’t resume Tread sales during fiscal 2020
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Peloton Interactive Inc. said quarterly revenue soared 66% and paid digital subscribers jumped 64% after the Covid-19 pandemic spurred thousands of people to work out at home. The company also raised forecasts, sending the shares up more than 9% in extended trading.
The New York-based maker of fitness equipment and online exercise services said it generated $524.6 million in sales and grew to over 886,000 connected fitness subscribers, easily beating analysts’ estimates.