Peloton Shares Surge Over 35% on Unexpected Sales Growth

The fitness company reports its first revenue increase in two years, signaling progress in its turnaround efforts.

Peloton's Q4 revenue rose 0.2% year-over-year to $644 million, beating analyst expectations.
The company reported a net loss of $30.5 million, significantly less than the $241.8 million loss a year ago.
Subscription revenue grew by 2%, while hardware sales declined by 4%.
Cost-cutting measures and restructuring plans have led to positive cash flow and reduced expenses.
Peloton is in the process of searching for a new CEO after Barry McCarthy's departure.