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Peloton posted a surprise profit for its fiscal fourth quarter on Thursday and outlined its strategy to return to growth under new CEO Peter Stern . Shares of Peloton gained 6% in early trading.

The connected fitness company, known for its stationary bikes and treadmills, posted net income of $21.6 million, compared with a loss of $30.5 million in the year-earlier period. That's thanks to better-than-expected sales but also, Peloton's efforts to cut its operating expenses, which Stern said in a letter to shareholders remain too high.

In fiscal 2026, which began in July, the company plans to reduce run-rate expenses by another $100 million, on top of the $200 million it cut in fiscal 2025. Half of those cu

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