In this article PTON Follow your favorite stocks CREATE FREE ACCOUNT A stationary bicycle inside of a Peloton store is pictured in the Manhattan borough of New York City, U.S., January 25, 2022.
Carlo Allegri | Reuters Peloton said Thursday it is digging itself out of the red and eked out a slight sales increase for the first time in nine quarters. The beleaguered connected fitness company, which is currently being run by two board members after former CEO Barry McCarthy resigned earlier this year , saw sales grow by 0.2% during its fiscal fourth quarter.
While only a modest uptick, it's the first time Peloton posted year-over-year revenue growth since its 2021 holiday quarter. The company also indicated it's ready to focus on profitability over growth with signifcant cuts to its marketing and sales spending and meaningful increases to free cash flow and adjusted EBITDA. Shares rose more than 11% in premarket trading.
Peloton's results came in well ahead of estimates, but it delivered a mixed outlook for the year ahead. Here's how the Bike and Tread maker performed compared with what Wall Street was anticipating, based on a survey of analysts by LSEG: Loss per share: 8 cents vs. 17 cents expected Revenue: $644 million vs.
$631 million billion expected For the three-month period that ended June 30, Peloton significantly narrowed its losses. The company posted a loss of $30.5 million, or 8 cents per share, compared with a loss of $241.
8 million, or 68 cents per share, a year ea.