Peloton Gears Up For Next Chapter: Sales Beat, Apple Alum As CEO, And Strong Margin Gains

Peloton Interactive, Inc.’s (NASDAQ:PTON) stock soared nearly 30% as the company not only smashed first-quarter sales estimates but also brought in a high-profile Apple Inc. veteran to lead its next chapter.

The company reported first-quarter sales of $586 million, surpassing the street estimate of $574.84 million, with quarterly earnings per share breaking even.

The company reported a GAAP net loss of $1 million, a notable improvement of $158 million year over year. Additionally, Peloton achieved a GAAP operating income of $13 million, reflecting an increase of $145 million from the same period last year.

Also Read: Anheuser-Busch Q3 Beats, But Beer Volume Drops Globally

In the quarter, Peloton raised the recommended retail prices for its Bike and Bike+ products in international markets, particularly in Germany, where the company transitioned to a ...