Peloton Stock Leaps

Video Credit: Wochit Business - Duration: 00:26s - Published
Peloton Stock Leaps

Peloton Stock Leaps

On Friday, Peloton stock rose as much as 13% in pre-market trading.

The increase came 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.

That generated $89 million in net income for Peloton.

Business Insider reports that Peloton executives expect to nearly double revenue to between $3.5 billion and $3.65 billion next year.

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