Peloton Stock Jumps as Firm Posts Unexpected Profit, Announces Layoffs
Peloton, known for its stationary bikes and other exercise equipment, reported a GAAP profit of 5 cents per share when a loss of 5 cents per share was expected by analysts surveyed by Visible Alpha. Revenue of $606.9 million fell 6% year-over-year but topped estimates.
"Our operating expenses remain too high, which hinders our ability to invest in our future," CEO Peter Stern wrote in a shareholder letter. "Today, we are launching a cost restructuring plan intended to achieve at least $100 million of run-rate savings by the end of FY26 by reducing the size of our global team, paring back indirect spend, and relocating some of our work. This is not a decision we came to lightly, as it impacts many talented team members, but we believe it is necessary for the long-term health of our business."
For fiscal 2026, Peloton sees revenue of $2.4 billion to $2.5 billion, with the midpoint above consensus estimates.
Peloton shares advanced 10% shortly after the opening bell but remain roughly 10% lower this year.
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