Peloton Interactive, Inc. (NASDAQ:PTON) shares climbed after the company released its first-quarter earnings report after Thursday's closing bell, beating analyst estimates on the top and bottom lines.  

Here's a look at the details in the report. 

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The Details: Peloton Interactive reported quarterly earnings of three cents per share, which beat the consensus estimate of one cent.

Quarterly revenue came in at $550.8 million, which beat the Street estimate of $539.81 million.

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Peloton reported the following metric for the first quarter:

• Total Gross Margin was 51.5%, a decrease of 30 bps year-over-year and 50 bps below guidance, driven by a $13.5 million accrual for Bike+ seat post inventory costs.
• Ending Paid Connected Fitness Subscriptions were 2.732 million, a decrease of 164,000 or 6% year-over-year and 2,000 above the high end of guidance range.

“In this quarter leading up to the launch of our new equipment lineup and Peloton IQ, our team once again demonstrated the power of disciplined execution and focus,” said Peloton CEO Peter Stern.

“Our continued momentum on bottom line performance sets the stage for improvements on the top line as we progress through the fiscal year, fueled by our commitment to innovation and growing the Peloton community,” Stern added.

PTON Stock Price: According to data from Benzinga Pro, Peloton stock was up 10.86% at $7.44 in Thursday's extended trading. 

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Photo: Courtesy Peloton