Peloton stock jumps 12%, adding $3 billion to the connected-fitness company’s market value after it turns its first quarterly profit



a man doing a trick on a stage: Peloton


© Peloton
Peloton

  • Peloton stock rose as much as 12% on Friday 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, generating $89 million in net income.
  • Peloton executives expect to nearly double revenue to between $3.5 billion and $3.65 billion next year, and grow adjusted earnings to at least $200 million.
  • The company’s stock has almost tripled this year as investors continue to view it as a “stay-at-home” winner.
  • Visit Business Insider’s homepage for more stories.

Peloton shares jumped as much as 12% on Friday, adding about $3 billion to the connected-fitness company’s market capitalization after it turned its first quarterly profit ever.

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