Peloton shares surge as fitness equipment company’s sales finally rise

Peloton Interactive reports fourth-quarter revenue of $643.6m, exceeding analysts' expectations

Peloton Interactive reported its first sales increase in nine quarters and beat estimates, indicating that the fitness equipment maker's years-long turnaround efforts were paying off, sending its shares surging as much as 41% on Thursday.

The restructuring aims to stanch a slump in sales of its high-end, at-home equipment following a boom during the pandemic as customers cut back on discretionary spending in the face of elevated interest rates and sticky inflation.