Consumer
Peloton Posts Profit Beat and Raises Guidance, Shares Surge
- New CEO eyes fresh products, member events and more cost cuts
- Company raises full-year targets for earnings and cash flow
A Peloton Tread inside a showroom in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Peloton Interactive Inc. reported profit that surpassed Wall Street’s expectations in the first quarterly results under new management, showing cost cuts are bolstering its bottom line even as its revenue continues to shrink.
The fitness company also said Thursday that it expects adjusted earnings before interest, taxes, depreciation and amortization to total $70 million to $85 million in the fiscal third quarter, which runs through March. Analysts had estimated $51.8 million on average, according to data compiled by Bloomberg.