Peloton finally did something it hasn't done in years

Shares of exercise equipment company Peloton surged over 35% after it reported its first rise in sales in more than two years. The company brought in $644 million in sales, signaling a potential turnaround following years of losses. Peloton saw a surge in sales during the pandemic, but it tapered off as people returned to the office. The company unveiled restructuring plans, including layoffs and reduced spending on promotions, signaling a shift toward profitability. Analysts believe focusing on existing subscribers and profitability is the best strategy for Peloton.