Peloton stock price soars 20% to record highs after earnings - Business Insider

📆 07/05/2020 18:35:00
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Peloton soars 20% to record highs after earnings show people flocking to its bike as gyms are closed across the country

soared as much as 20% Thursday morning to record highs after reporting fiscal third quarter earnings that topped analyst revenue and guidance estimates.

One of the most striking figures to come out of Peloton's third quarter earnings release was its churn rate of 0.46%. Additionally, on an adjusted Ebitda basis, Peloton posted a profit of $23.5 million versus its own previous guidance range of -$35 million to -$25 million, suggesting that the strong results were even a surprise to Peloton executives.

There were signs that Peloton was on the verge of reporting blockbuster earnings just a couple weeks ago when it was reported

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