Peloton revenue surges as pandemic boosts demand for fitness equipment

(Reuters) – Exercise bike maker Peloton Interactive Inc posted a 172% rise in quarterly revenue on Thursday, benefiting from a surge in subscribers and demand for its fitness products during the coronavirus pandemic.

The company’s net income attributable to Class A and Class B shareholders was $89.1 million, or 27 cents per share, in the fourth quarter ended June 30, compared with a loss of $47.4 million, or $2.07 per share, a year earlier.

Total revenue jumped to $607.1 million from $223.3 million.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Maju Samuel)