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Peloton on Thursday posted its second profitable quarter in a row as it released strong guidance for the crucial holiday shopping season, banking on its relaunched product assortment to drive growth.

The connected fitness company posted a surprise net income of $13.9 million in the three months ended Sept. 30, compared with a loss of $900,000 a year earlier.

For the current quarter, Peloton's strongest for hardware sales, the company is expecting revenue to be between $665 million and $685 million, a slight increase from the year-ago period and largely better than Wall Street expectations of $665 million, according to LSEG.

Peloton also raised its full-year adjusted EBITDA outlook and is now expecting it

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