📈 Why did Peloton Jump 35%??

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Good Morning & Happy Friday!

As the broader market pulled back in anticipation of Powell’s speech later today, individual stocks like Zoom and Peloton surged.

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Grab your oat americano, and let’s dive in! ☕️👇️

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STOCK MARKET

Peloton’s Turnaround

Peloton is finally back in the spotlight! The company just posted its first year-over-year revenue growth in over two years, and investors are loving it. Shares jumped more than 35% on Thursday, driven by better-than-expected numbers.

Here’s the rundown:

• Quarterly revenue hit $643.6 million, up 0.2% year-over-year—Peloton’s first gain since Q2 2022.

• Subscription revenue climbed 2.3%, reaching $431.4 million.

• The company also narrowed its loss to $30.5 million, or 8 cents per share, a big improvement from last year’s $241.8 million loss.

Peloton credits its turnaround to a focus on cost-cutting, with $15 million in savings from its restructuring plan.

They’re also introducing a $95 "used equipment activation fee" for bikes purchased outside its official channels, aiming to capitalize on the secondhand market. While Peloton doesn’t profit from resale directly, it does from new subscriptions tied to those bikes. The fee is one-way Peloton is pushing for new revenue streams as it strives to recover.

Looking ahead, Peloton forecasts fiscal 2025 revenue between $2.4 billion and $2.5 billion, though that’s a bit below analyst expectations. The search for a new CEO is also still ongoing.

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