Peloton (PTON) reported its Q1 FY25 earnings, revealing a total revenue of $586 million, slightly above the consensus estimate of $578.84 million. The company also reported 6.2 million members, a decrease from 6.4 million last year. Despite a decline in Connected Fitness Products Revenue by 11.6% year-over-year to $159.6 million, Subscription Revenue increased to $426.3 million. Peloton raised its full-year profit guidance but anticipates a softer holiday quarter. The company's stock surged by 30%, adding over $1 billion in market cap, driven by improved EBITDA, aggressive cost-cutting measures that reduced operating expenses by 30% year-on-year, and the announcement of a new CEO. Peloton's guidance for Q2 FY25 indicates a slight decrease in paid Connected Fitness subscriptions, with an expected churn rate improvement. Despite reporting negative quarterly earnings, Peloton's stock is up 24%. The company also guided EBITDA to $50 million more for FY25.