"Performance" Online Fitness Peloton turned a profit last season while laying off 6%, pre-market stock price rose 12%

Online fitness company Peloton (PTON.US) announced a net profit of $21.6 million for the fourth fiscal quarter, compared to a loss of $30.5 million in the same period last year; earnings per share were 5 cents, better than the expected loss of 6 cents; revenue fell 6% year-on-year to $610 million, exceeding the expected $580 million. The company plans to launch another cost-cutting initiative to save $100 million in expenses, half of which will come from a 6% workforce reduction. The company's stock price rose 12% in pre-market trading.

Peloton's sales of fitness bikes and treadmills, along with fitness revenue, were approximately $200 million last quarter, far exceeding the expected $170 million. The company plans to expand its number of micro-stores from 1 to 10 and grow its secondary market for used hardware.

Peloton expects sales for this quarter to be between $525 million and $545 million, lower than the previously forecasted $560 million. However, the company anticipates full-year sales to be between $2.4 billion and $2.5 billion, slightly higher than the expected $2.4 billion