Peloton revenue surges as pandemic boosts demand for fitness equipment

By Reuters Posted on September 10, 2020

A Peloton logo is seen after the ringing of the opening bell for the company’s IPO at the Nasdaq Market site in New York City, New York, U.S., September 26, 2019. (REUTERS/Shannon Stapleton)

Exercise bike maker Peloton Interactive Inc posted a 172% rise in quarterly revenue on Thursday, benefiting from a surge in subscribers and demand for its fitness products during the coronavirus pandemic.

The company’s net income attributable to Class A and Class B shareholders was $89.1 million, or 27 cents per share, in the fourth quarter ended June 30, compared with a loss of $47.4 million, or $2.07 per share, a year earlier.

Total revenue jumped to $607.1 million from $223.3 million.